Commerzbank cuts 3,000 jobs to fend off UniCredit
Commerzbank will cut 3,000 jobs and raise financial targets through 2028. The strategy aims to boost profits and maintain independence from Italy's UniCredit.
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COMMERZBANK AG will cut 3,000 jobs and raise 2028 profit targets to block a takeover attempt by UNICREDIT SPA. The lender upgraded financial forecasts for revenue and profit through 2028 beyond previous estimates. This restructuring aims to convince shareholders that Commerzbank can deliver higher returns as an independent entity than under Italian ownership.
