Germany's second-largest lender Commerzbank to cut 3,900 jobs as it unveils new targets
Portfolio Pulse from
Commerzbank, Germany's second-largest lender, plans to cut 3,900 jobs by 2028 and anticipates restructuring costs of 700 million euros in 2025. The bank aims for a net result of 2.4 billion euros after these charges.
February 13, 2025 | 7:15 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Commerzbank plans to cut 3,900 jobs by 2028, incurring 700 million euros in restructuring costs in 2025, aiming for a net result of 2.4 billion euros post-charges.
The announcement of job cuts and significant restructuring costs may negatively impact investor sentiment in the short term. However, the bank's target of a substantial net result post-restructuring could mitigate some concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100