Commerzbank Plans to Cut Up to 4,000 Jobs Amid Strategic Restructuring

Commerzbank is reportedly considering a workforce reduction of up to 4,000 positions as part of its new strategic plan, according to a Reuters report. The bank is set to present its updated strategy on Thursday, with discussions about the measures scheduled to take place with the supervisory board on Wednesday. When approached by Dow Jones Newswires, Commerzbank declined to comment on the matter.

Currently employing approximately 42,000 people, Commerzbank will hold a Capital Markets Day on Thursday, where it is expected to announce ambitious new return targets. The bank had already refined its existing goals in September, extending its strategic outlook to 2027. By then, Commerzbank aims for a return on equity (ROE) of 12.3%, compared to 9.2% in 2024, based on preliminary financial data the bank has already shared.

The updated targets are seen as a defensive move amid takeover interest from UniCredit, which has recently acquired a 28% stake in Commerzbank. The German bank has been positioning itself as a stronger independent entity, rejecting UniCredit’s advances, which it perceives as hostile.

On the stock market, Commerzbank’s shares rose 0.48% during XETRA trading, reaching €18.99 at one point.

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