Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 13 February, the German bank Commerzbank will cut 3,900 full-time jobs worldwide by 2028, including 3,300 in Germany. The layoffs will primarily affect the headquarters and other locations in Frankfurt. At the same time, there will be staff expansions at international locations and at the Polish subsidiary mBank, ensuring that the total workforce remains largely stable at 36,700 full-time employees worldwide.
The goal is to increase profits in its battle against Italian rival UniCredit. After posting a net profit of €2.7 billion last year, Commerzbank aims to raise this to €4.2 billion by 2028.
UniCredit, Italy’s major banking group, acquired a 9% stake in Commerzbank in September and has since secured access to 28% of shares through derivatives. UniCredit seeks a full takeover, but Commerzbank insists on maintaining its independence. By setting a new profit target, Commerzbank aims to convince investors that it can survive long-term as an independent institution. Commerzbank, Germany’s second-largest retail bank, employs around 20,000 full-time employees in Germany.
Eurofound (2025), Commerzbank, Offshoring/Delocalisation in Germany, factsheet number 202362, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202362.