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Commerzbank: Agreement on the details of job cuts

Commerzbank: Agreement on the details of job cuts

The German Commercial Bank could continue to cut thousands of jobs as planned. The Institute announced, Friday, in Frankfurt, that negotiations with the Public Works Council for the implementation of “Strategy 2024” have been successfully concluded. “We can now continue to drive the transformation forward quickly and at full speed,” said CEO Manfred Knauf.

According to the information, the number of management positions will decrease by about 30 percent. With the completion of the partial reconciliation of interests, the general social plan agreed in May 2021 will enter into force. Anyone who decides to leave the bank prematurely will receive a “runner’s bonus” of €30,000 for early retirement or €60,000 for contract termination as part of an already reported volunteer program.

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