Commerzbank’s new CEO finalizes plans to cut 10,000 jobs By Reuters

© Reuters. FILE PHOTO: Commerzbank AG annual results news conference in Frankfurt

FRANKFURT (Reuters) – Commerzbank (DE:)’s new chief executive Manfred Knof on Wednesday finalized plans to cut 10,000 jobs and close hundreds of branches, a radical overhaul for Germany’s No. 2 bank that had eluded his predecessor.

The bank made the announcement following a board meeting.

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