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1/28, 4:02 PM (Source: TeleTrader)
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Commerzbank plans to cut about 10,000 jobs by 2024

Commerzbank AG announced on Thursday the company plans to lay off around 10,000 full-time employees within the next three years, a third of its total workforce in Germany.

"The business is set to become more digitalized, with the costs considerably decreasing in all areas," the statement noted. However, Commerzbank's supervisory board is yet to make a final decision on the matter during its meeting scheduled for February 3.

The plans come shortly after newly appointed Chief Executive Manfred Konf assumed his position earlier this month.

Breaking the News / ND