Commerzbank employees are worried about job cuts report

Reports that Germany’s Commerzbank is considering cutting thousands of jobs as it contends with an unwanted advance from Italy’s UniCredit have unsettled staff, a senior trade union official has said. Frederik Werning, a Verdi trade union official and a member of the supervisory board at Germany’s second-largest lender, said rumoured redundancies reported in the Financial Times on Saturday, citing two sources familiar with the matter, had caused “uncertainty among employees.” The union’s “absolute priority” was to “consistently represent and defend employees,” Werning said.