Germany's second largest bank announces workforce cut of almost 8,000

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Germany’s second-largest bank, Commerzbank AG has released a statement informing the Working Council that just under 8,000 jobs will be cut in Germany as part of a business reorganisation that was originally publicised in 2016. Last September the bank had announced plans to axe closer to 10,000 jobs, over a fifth of its workforce, however due to cuts and staff attribution processes, the figure seems to be lower.