Commerzbank Takeover: Massive Job Cuts Loom!

A hostile takeover of Commerzbank by UniCredit could lead to massive job cuts. Stefan Wittmann, a board member at Commerzbank, warns that two-thirds of jobs could disappear if the Italian bank’s takeover goes through. UniCredit has already increased its stake in Commerzbank, and the German government is likely to play a key role in the outcome.

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