Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Commerzbank will cut up to 6,000 jobs over the next four years. The jobs will be lost worldwide and in all units of the bank, with the exception of its subsidiaries Comdirect and BRE Bank.
The restructuring comes in an effort to reduce costs. Commerzbank took over Dresdner Bank four years ago and is confronted with a too large and lossmaking domestic branch network.
The union Verdi expects most redundancies in Germany (up to 4,600 jobs) and foremostly in local branches.
Eurofound (2013), Commerzbank, Internal restructuring in World, factsheet number 74811, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74811.
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