Commerzbank Announces 3,900 Job Cuts and Strategic Update to Counter UniCredit Pressure

Germany's second-largest bank outlines restructuring plans, raises financial targets, and aims to fend off a potential takeover by Italy's UniCredit.

Commerzbank plans to cut 3,900 jobs, primarily in Germany, by 2028, while increasing staffing in international locations like Poland.
The restructuring will incur costs of €700 million in 2025, with the bank aiming for a net profit of €2.4 billion after these charges.
The strategy update includes ambitious financial targets, such as raising 2027 net profit goals to €3.8 billion and improving cost-to-income ratios.
UniCredit has increased its stake in Commerzbank to 28%, fueling speculation about a potential cross-border merger, which has faced resistance from German politicians and executives.
Commerzbank's record €2.68 billion profit in 2024 and plans for shareholder returns aim to strengthen its position and deter a takeover.