Market Data Staff Escapes Commerzbank’s Cuts

ORGANIZATION AND STRATEGY

Commerzbank’s market data staff within Investment Banking ITwill not be affected by the latest round of job and budget cuts this year, a spokesperson says.

The bank is planning to make over 3,000 job cuts over the next year, half of which will affect central staff units, including IT, back-office and administration.

However, redundancies in Investment Banking IT, where about a quarter of all the banks’ IT staff work, were made last year, and there are no plans for any additional major cutback

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