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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
3,400 - 4,600 jobs Number of planned job losses
Announcement Date
24 January 2013
Employment effect (start)
Foreseen end date
31 December 2016
Description
In January, Commerzbank informed its works council that the private customer service departments shall be streamlined. This implies up to 4,600 jobs cuts of which 3,400 at its branch offices, according to German United Services Union ver.di. The measures shall be implemented from 2013 to 2016.
The restructuring is part of a global plan that will see 4,000 to 6,000 full-time positions go (see here). Where these job cuts will be implemented is still unclear, although the Polish subsidiary BRW Bank and online banking subsidiary ComDirect will not be affected.
Talks with the company’s works council and the United Services Union (ver.di) are to start in February. The works council and the trade union strongly object the plans.
Sources
25 January 2013: Handelsblatt
24 January 2013: Handelsblatt
Citation
Eurofound (2013), Commerzbank, Internal restructuring in Germany, factsheet number 74812, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74812.
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