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International Business Times
International Business Times
Business

Job Cuts Report Worries Employees At Germany's Commerzbank

Commerzbank Germany UniCredit Italy
Commerzbank has attracted the interest of Italy's UniCredit, which controls over a quarter of the German bank's shares (Credit: AFP)

Suggestions that German lender Commerzbank was considering cutting thousands of jobs as it fights off an unwanted advance from Italy's UniCredit had unsettled employees, a senior trade union official said Monday.

A plan to significantly reduce the headcount at Germany's second-largest bank would be presented to the works council in the weeks ahead, the Financial Times daily reported on Saturday, citing two sources familiar with the matter.

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