Germany's Commerzbank plans to cut 4,000 jobs to resist a potential takeover by Italy's UniCredit.

Germany's Commerzbank plans to cut up to 4,000 jobs and revise financial targets to resist a potential takeover by Italy's UniCredit. The bank aims to show it can thrive independently, with plans to streamline operations through technology and consider smaller acquisitions. Commerzbank's management and German Chancellor Olaf Scholz oppose the takeover, viewing UniCredit's advances as "hostile."

6 weeks ago
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