eignty. Employee representatives, including the Verdi union and the bank’s works council, are particularly worried about potential job cuts, with some estimates warning that up to two-thirds of jobs could be lost under new ownership. They are urging the German government to maintain its 12% stake in the bank and block any further share sales to UniCredit.
In an effort to strengthen its position and stay independent, Commerzbank has announced a plan to cut 3,900 jobs—mainly in Germany—and streamline operations. This comes as the bank reports its strongest quarterly profits since 2011, a move seen as a way to demonstrate resilience and discourage the takeover.
The standoff highlights deep concerns about national economic interests, employment stability, and foreign influence in one of Germany’s key financial institutions. About the Author
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