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Commerzbank plans cutting headcount by 2,300

Sep. 20, 2019 9:43 AM ETCommerzbank AG (CRZBF) Stock, CRZBY Stock, BREJY StockCRZBY, BREJY, CRZBFBy: Liz Kiesche, SA News Editor
  • Commerzbank's (OTCPK:CRZBF) board of managing directors submits to the supervisory board its draft strategy that calls for a net decrease of 2,300 in headcount, EUR 1.6B of investments, closing 200 branches, and the sale of its majority stake in mBank (OTCPK:BREJY).
  • The investment plans include EUR 750M for digitization, IT infrastructure, and growth, while restructuring costs account for the remaining EUR 850M.
  • Related ticker: OTCPK:CRZBY.

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