April 4, 2017 / 4:39 PM / 6 months ago

Commerzbank to cut 7,800 jobs in Germany: Handelsblatt

The headquarters of the Commerzbank AG is pictured before the bank's annual news conference in Frankfurt February 13, 2014. REUTERS/Ralph Orlowski

BERLIN (Reuters) - Commerzbank AG (CBKG.DE), Germany’s second-largest bank, has informed its works council that 7,800 jobs will be cut in Germany as part of a restructuring announced last year, the Handelsblatt newspaper reported on Tuesday.

Citing an internal document from the works council, Handelsblatt said the cuts would affect almost every part of the bank and said more information was needed before it could engage in negotiations.

Commerzbank said last September it planned to cut 9,600 jobs, more than a fifth of its workforce, but trade union Verdi has said the total would actually end up being lower due to already agreed cuts and the usual process of staff attrition.

Reporting by Emma Thomasson; Editing by Greg Mahlich

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