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December, 11, 2016

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Commerzbank preparing to ax up to 6,000 jobs, 10% of workforce: report

FRANKFURT -- Commerzbank, Germany's second-biggest bank, is preparing to ax up to 10 percent of its workforce in the coming years, or 5,000-6,000 jobs, the weekly Die Zeit reported on Wednesday.

Commerzbank is scheduled to publish its third-quarter results on Thursday where it is also set to announce large-scale cost cuts.

A bank spokesman declined to comment on the newspaper report.









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