News Headline Summary

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

- Cuts to be focused on central admin departments.

Reaction details (09:35)

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

Analysis details (09:39)

- 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.

07 Nov 2012 - 09:32 - Equities - Source: Die Zeit

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: