FRANKFURT (Reuters) – Commerzbank’s new chief executive Manfred Knof on Wednesday finalized plans to cut 10,000 jobs and close hundreds of branches, a radical overhaul for Germany’s No. 2 bank that had eluded his predecessor.
The bank made the announcement following a board meeting.
Reporting by Tom Sims and Patricia Uhlig; Editing by Arno Schuetze
source: reuters.com