Germany's Commerzbank plans to cut around 3,000 more full-time jobs across the group by 2030, the DAX-listed lender said on Friday.
The bank, which is facing a takeover approach from Italy's UniCredit, said the cuts would come on top of previously announced savings measures, although jobs would also be created in growth and future-oriented areas.
Commerzbank employed 39,867 full-time staff worldwide at the end of 2025.
In February 2025, Commerzbank announced plans to cut 3,900 full-time jobs by the end of 2027, with most of the reductions in Germany. At the same time, the bank said it intended to create new positions, particularly abroad, including at its Polish subsidiary mBank and at locations in Asia.
Additionally, Commerzbank reported stronger-than-expected first-quarter 2026 results, posting an operating profit of around €1.36 billion ($1.6 billion) and net income of €913 million, both roughly 10% higher year-on-year and above analyst expectations.
For 2025 as a whole, the Frankfurt-based lender reported a net profit of just over €2.6 billion, narrowly below its record result of around €2.7 billion in 2024, despite higher costs linked to ongoing restructuring.
Commerzbank raises 2026 outlook
Under its revised strategy, Commerzbank now expects stronger earnings going forward, targeting net profit of at least €3.4 billion in 2026, €200 million more than previously planned. It aims to increase this to €4.6 billion by 2028 and €5.9 billion by 2030.
UniCredit chief executive Andrea Orcel recently criticized what he described as Commerzbank's below-average operational performance over several years, warning that without a strategic reset, the lender's medium-term survival could be at risk. UniCredit reported a record quarterly profit of €3.2 billion for the first quarter of 2026.
The Italian bank, which according to recent disclosures holds around 30% of Commerzbank shares and plans to increase its stake via a share swap in the coming weeks, has also outlined a restructuring plan in the event of a takeover.
Commerzbank management, works council and employees have for months resisted what they describe as Orcel's "hostile" approach. The German government also opposes a hostile takeover. The state, which rescued Commerzbank during the 2008/09 financial crisis with billions in aid, still holds around 12% of the lender.
