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.
Commerzbank will cut 376 out of 800 full-time positions in its finance department by the end of 2018 at several locations (Frankfurt, Berlin and Duisburg). A total of 50 job cuts will be affected by location closure in Berlin and Duisburg, 275 full-time positions will be affected in Frankfurt due to saving of personnel costs. Some jobs are being relocated within Germany from Frankfurt, Berlin, and Duisburg to Halle (Saale), where Commerzbank has a subsidiary, ComTS.
Commerzbank originally wanted to cut 450 positions. The reduction in job cuts to 376 positions is the result of negotiations with the trade union Verdi.
In January 2015 Commerzbank informed that job reductions of the bank will equally affect management positions, 160 in consumer banking and 100 positions dealing with small and medium-sized businesses (see 2015).
Eurofound (2015), Commerzbank, Internal restructuring in Germany, factsheet number 78269, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78269.