The board of directors wants to prevent redundancies if possible, but has not ruled them out as a last resort.
(Photo: dpa)
Frankfurt The Commerzbank top has agreed on the details of the group restructuring with the works council. “Only nine months after the strategy 2024 was presented, the target structure of the bank in Germany is fixed,” said CEO Manfred Knof. “Now we can continue to drive the transformation forward quickly and at full speed.”
Knof wants to cut 10,000 jobs worldwide by 2024 and close 340 branches in Germany. After intensive negotiations, the management agreed on Friday afternoon with the employee representatives on partial reconciliations of interests, in which the restructuring of the individual segments is laid down.
In addition, both sides agreed an in-house collective agreement for the new advisory centers, from which Commerzbank customers are to be increasingly supported by telephone and digitally in the future. This in-house collective agreement enables work on Saturdays and includes a location guarantee for the advice centers until the end of 2027.
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