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Commerzbank board member says 10,000 job cuts are ‘simply crazy’

  • Wittmann's comment to Reuters came as the board embarks on discussions about a radical overhaul proposed by management.
Published January 29, 2021

FRANKFURT: Stefan Wittmann, who sits on Commerzbank's supervisory board as a labour representative, said on Friday that plans to cut 10,000 jobs were "simply crazy".

Wittmann's comment to Reuters came as the board embarks on discussions about a radical overhaul proposed by management.

Wittmann, an official with the Verdi labour union, said doing more with fewer people is not a recipe for success in the long term.

A spokeswoman for Commerzbank declined to comment.

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