Have you heard about the latest developments at Commerzbank? $CBK (-2.7%) heard? The bank is planning to cut several thousand jobs by 2028, mainly at its headquarters in Frankfurt. 😲 The background? Possible takeover plans by the major Italian bank Unicredit $NBLB-R-B.
Commerzbank is focusing on a socially responsible transformation process that aims to take advantage of natural fluctuation and demographic change. This means that they are trying to compensate for the jobs that will be lost through normal departures.
But the debate is heated! The head of the works council has already warned of a reduction of up to 15,000 jobs. The German government was also outraged by the situation, while Unicredit is increasing its stake in Commerzbank.
What do you think about these developments? Will Commerzbank actually be swallowed up by Unicredit or is there another solution?