News Headline Summary

Commerzbank (CBK GY) may cut 5,000-6,000 jobs

- Cuts to be focused on central admin departments.

Update details:

- Earlier in the week that co. is to revamp its faltering retail operations and pledge a rapid sell-off of unwanted assets. This comes as the bank continues to struggle to return to its pre-crisis profitability levels. Also, co. remains c. 24% owned by the German government.

Reaction details:

- In an immediate reaction, co. shares gained 0.50% from EUR 1.54 to EUR 1.55.

Print 09:32, 07 Nov 2012 - DAX - Source: Die Zeit