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Commerzbank's management, employees make progress on job cuts
July 13, 2017 / 1:41 PM / 4 months ago

Commerzbank's management, employees make progress on job cuts

FRANKFURT, July 13 (Reuters) - Germany’s Commerzbank said on Thursday that management and employee representatives had hammered out guidelines for job cuts that were announced last year as part of a major restructuring.

The bank also reiterated that it would book restructuring charges of about 810 million euros ($924.2 million) in the second quarter.

The bank has warned that the expected charges, coupled with weak markets, would cause it to post a loss in the second quarter.

$1 = 0.8764 euros Reporting by Tom Sims; Editing by Maria Sheahan

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