BERLIN: A merger of Deutsche Bank and its rival Commerzbank could result in as many as 30,000 job cuts over the long term, a representative of German union Verdi who is a Deutsche supervisory board member told n-tv broadcaster.
Most of the 30,000 positions at risk are based in Germany, Verdi's Jan Duscheck said, according to comments published by the TV station on Monday. Over the short term there are 10,000 jobs under threat, Duscheck added. The government, which holds a stake of more than 15 per cent in Commerzbank following a bailout, wants a national banking champion to support its export-led economy, best known for cars and machine tools."In our opinion a possible merger would not result in a business model that is sustainable in the long term," Verdi's Duscheck said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Merger of Deutsche Bank, Commerzbank could cost 20,000 jobs: Union chiefA merger of Deutsche Bank and Commerzbank could put 20,000 jobs at risk, the head of labor union Verdi said in a media interview on Monday, a day ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Merger of Deutsche Bank, Commerzbank could cost 20,000 jobs: union chiefA merger of Deutsche Bank and Commerzbank could put 20,000 jobs at risk, the head of labor union Verdi said in a media interview on Monday, a day ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Germany's Verdi union opposes Deutsche-Commerzbank mergerGermany's Verdi labor union on Tuesday voiced strong objections to a possible merger between Deutsche Bank and Commerzbank, arguing that a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Germany's Verdi union opposed to Deutsche-Commerzbank mergerGermany's Verdi labor union on Tuesday voiced strong objections to a possible merger between Deutsche Bank and Commerzbank, arguing that a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Merger speculation boosts shares in Deutsche and CommerzbankShares in Deutsche Bank and Commerzbank traded higher on Monday as German business warmed to the prospect of a tie-up between the country's two ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Two top shareholders skeptical of Deutsche-Commerzbank merger: sourcesShares in Deutsche Bank and Commerzbank traded higher on Monday as German business warmed to the prospect of a tie-up between the country's two ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Deutsche Bank set to announce merger talks with Commerzbank: sourceDeutsche Bank on Sunday was set to announce merger talks with Commerzbank , according to a person with knowledge of the matter.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Explainer: Why Germany wants a merger to underpin Deutsche BankThe German government has pressured Deutsche Bank into merger talks with state-backed Commerzbank amid concerns for the health of the country's ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Why Germany wants a merger to underpin Deutsche BankDeutsche Bank on Sunday was set to announce merger talks with Commerzbank , according to a person with knowledge of the matter.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »