7/1, 7:24 PM (Source: TeleTrader)
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Commerzbank reduced workforce by 7,000 - CEO

Commerzbank AG has already released almost 7,000 workers and it plans to reach agreements with the rest of the staff it intends to lay off by the end of 2022, CEO Manfred Knof told Frankfurter Allgemeine Zeitung on Friday.

The company announced early last year that the number of its full-time employees will be cut by 10,000 by 2024.

In the interview, Knof hailed the European Central Bank's (ECB) decision to raise interest rates in the summer and voiced support for the transformation towards a more sustainable German economy.

Baha Breaking News (BBN) / MS