FRANKFURT, April 24 (Reuters) - Commerzbank is planning further job cuts as part of its updated strategy as Italy's UniCredit escalates its advances for a takeover, Handelsblatt reported on Friday,
Commerzbank Announces Further Job Cuts in Updated Strategy Amid Takeover Talks
Commerzbank's Strategic Update and Job Cuts
Background on Job Cuts
FRANKFURT, April 24 (Reuters) - Commerzbank is planning further job cuts as part of its updated strategy as Italy's UniCredit escalates its advances for a takeover, Handelsblatt reported on Friday, citing sources familiar with the matter.
Uncertainty Over Number of Job Cuts
The extent of additional job cuts at the German bank has not yet been decided, the paper said.
Official Statements and Future Announcements
Commerzbank declined to comment on the report but said it would provide details on its strategy on May 8.
Recent History of Staff Reductions
Previous Rounds of Job Cuts
Commerzbank has carried out two rounds of staff reductions in recent years.
Editorial Notes
(Writing by Linda Pasquini and Tom Sims; Editing by Ludwig Burger and Miranda Murray)
