Commerzbank to Cut 3,000 Jobs as CEO Orlopp Steps Up Defense

WATCH: Commerzbank CEO Bettina Orlopp speaks on Bloomberg Television.Source: Bloomberg

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By Arno Schuetze and Nicholas Comfort

May 8, 2026 at 5:11 AM UTC

Updated on

May 8, 2026 at 10:30 AM UTC

Commerzbank AG lifted its guidance for profit this year and outlined more job cuts as Chief Executive Officer Bettina Orlopp steps up her defense against a hostile takeover attempt by UniCredit SpA.

Profit for the full year will reach at least €3.4 billion ($4 billion), the German lender said Friday, raising an earlier guidance of more than €3.2 billion. Commerzbank also gave out new mid-term targets, including 3,000 job cuts that should help it double profit by 2030.