Commerzbank to cut around 3,000 jobs by 2016: trade union

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Germany's trade union Verdi on Wednesday said it estimated that around 3,000 jobs will be cut at Commerzbank ( id="symbol_CBKG.DE_0">CBKG.DE) by 2016 under a negotiated severance deal.

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The trade union was negotiating job cuts in Germany. The 3,000 cuts do not include staff reductions at Hypothekenbank Frankfurt, a unit formerly known as Eurohypo.

 

(Reporting By Edward Taylor)