Finance
Commerzbank to Slash Frankfurt Workforce as It Hires Abroad
The headquarters of Commerzbank AG in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Commerzbank AG will implement deep job cuts at its headquarters in Frankfurt while boosting staff in lower-cost locations.
The lender plans to eliminate some 3,300 roles in Germany, it said as part of an investor day on Thursday, with Frankfurt bearing the brunt, according to a spokesperson. Commerzbank employed about 25,500 staff in the country at the end of the third quarter.