Verdi warns that a takeover of Commerzbank by the Italian banking giant Unicredit could have severe repercussions for employees. Jan Duscheck, the federal group leader for banking at Verdi, told “Bild” that in most bank mergers dual structures are cut, and he estimates that more than 10,000 jobs at Commerzbank could be at risk.
According to the union, the most affected areas would be core functions such as administration, information technology and back‑office services. “Thousands of positions in the central offices in Frankfurt and Munich, as well as in the service companies, would be threatened” Duscheck said.
Branch overlap could also create redundancies if locations are consolidated. Verdi also expressed concern that positions at Hypovereinsbank-which is already part of the Unicredit group-might be jeopardised. Duscheck sharply criticised Unicredit chief Andrea Orcel, calling his conduct “uncalculable” and arguing that he is playing with the trust of employees and the confidence of the German economy.