Commerzbank Aims High: Strategy Revamp Targets Growth

Commerzbank plans to reduce 3,900 jobs and set ambitious financial targets to fend off a potential tie-up with UniCredit. While cutting jobs mainly in Germany, they will maintain a steady workforce by hiring abroad. The strategy includes significant restructuring, ambitious profit goals, and targeted acquisitions.

Commerzbank announced on Thursday its decision to cut 3,900 jobs as part of a comprehensive strategy overhaul aimed at bolstering its financial standing and deterring potential merger interest from UniCredit.

The job cuts, predominantly in Germany, are set to take place by 2028. Despite the reductions, the bank plans to hire internationally, keeping its total workforce stable at 36,700 employees.

Further plans include restructuring costs amounting to 700 million euros in 2025, an ambitious net profit target of 3.8 billion euros by 2027, and a disciplined payout strategy from 2026 to 2028. Commerzbank is also exploring strategic acquisitions and partnerships to enhance its market position.