Commerzbank CEO Plans to Cut Jobs in Communications Unit by Half
- Knof aiming to trim staff to below 100 from about 200 now
- CEO wants to make deeper cuts in units not linked to revenue
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Commerzbank AG Chief Executive Officer Manfred Knof is planning to eliminate half the jobs in the German bank’s communications unit as he forges ahead with an ambitious cost-cutting plan.
Headcount in the unit, which is run by Sven Korndoerffer and handles internal and external communications, could fall to below 100 from about 200 now, according to people familiar with the matter.