Germany - Commerzbank restructuring leads to massive job losses - September 30, 2016

Negotiations have not yet started, but it is clear that an announced restructuring at Commerzbank will lead to massive job losses. The country’s second-largest lender would need to shed some extra 5,000 positions, a 10-percent reduction in the lender's overall workforce of roughly 50,000. It said the proposed cuts would mainly hit administrative and managerial workers. Earlier this month a trade union representative in the bank’s board had qualified the idea that Commerzbank and Deutsche Bank better could merge ‘absurd’.

English: http://www.dw.com/en/germanys-commerzbank-facing-massive-job-cuts …  

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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