Commerzbank to cut 110, move London jobs

摘要

Commerzbank plans to cut or relocate around 440 London jobs in investment banking and back office technology to Frankfurt and other cities to reduce costs, according to a memo seen by Reuters. Germany's second-largest bank hopes to move around 80 front-office positions from its investment bank, including currency and bond traders, to its headquarters in Frankfurt. Another 260 positions in information technology will be moved to Germany, Eastern Europe and Singapore. The majority of those positions are outside contractors.