Toronto – The Verdi union warns of massive job cuts in the event of a possible takeover of Commerzbank by the major Italian bank UniCredit. In the event of a merger, significantly more than 10,000 jobs at Commerzbank could come under pressure, said Jan Duscheck, head of the banking sector at Verdi, to the newspaper Bild (Tuesday edition). “Duplicate structures are almost always eliminated in bank mergers,” he explained, according to the preliminary report.
