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January 24th, 2013 
FAKE NEWS for the Zionist agenda A spokeswoman for Commerzbank said on Thursday, “Overall, the bank is assuming that 4,000-6,000 jobs will be cut group-wide by 2016. The exact number will be determined in negotiations with employee representatives that are likely to start in February.”
The layoffs signify the impact of the eurozone crisis on the bank. Commerzbank, like other European banks, has struggled with the economic downturn in Europe.
The bank currently has a total workforce of over 56,000 staffs.
Commerzbank said the cuts would affect around 10 percent of the workforce from all units worldwide and would mostly hit workers in the bank’s retail division.
As another cost cutting measure, Commerzbank is set to increase business hours at all its branches and make staffs work shifts in changing locations.
The effects of Europe’s debt-crisis, which started in 2008, have loaded banks with the weight of increased loans to support the worsening economy.
European Union (EU) governments have consequently enforced harsh austerity measures on the public, which have sparked widespread protests across Europe.
GVN/HMV
Source Article from http://www.presstv.ir/detail/2013/01/24/285349/major-german-bank-to-cut-6000-jobs/
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