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83 percent of Commerzbank staff oppose Deutsche Bank merger: survey

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Some 83 percent of Commerzbank employees oppose a merger with Deutsche Bank, according to an internal survey seen by Reuters

FILE PHOTO: Headquarters of Commerzbank and Deutsche Bank are photographed in Frankfurt, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT - on Wednesday. The poll results are preliminary and come during the fifth week of merger talks between the two German lenders. Employees have until May 3 to voice their opinion in the poll conducted by the works council representing the bank’s headquarters.The opposition at Commerzbank is fiercer than at Deutsche Bank, where a similar survey showed nearly 70 percent were against a tie-up. Unions have said that a merger could result in the loss of 30,000 jobs.

“Distance yourselves from the merger plans,” Commerzbank’s works council wrote in an open email to the bank’s management board with the survey results.

 

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