Close-down of Commerzbank AG Subsidiary Luxemburg in 2024, ALEBA is following the case closely

End of January 2021, the German bank Commerzbank, headquartered in Frankfurt, announced 10,000 job cuts worldwide by 2024, resulting, among other things, in a reduction in the number of branches to around 450, against 790 currently throughout Germany.

The subsidiary in the Grand Duchy named “Commerzbank AG Filiale Luxemburg” will unfortunately also be affected by this strategic decision of the parent company. Around 200 people are currently employed in Luxembourg.

The leading trade union in the financial sector, ALEBA was informed of this situation and with the Staff Delegation, with whom ALEBA remains in close contact, immediately initiated a social dialogue with the Management regarding the concrete development of the situation in Luxembourg related to this close-down scheduled for the end of 2024.

In an already very difficult context marked by the coronavirus pandemic, ALEBA will work alongside all employees to support them and ensure them the best conditions.

 

Pressrelease on Tuesday, February 23, 2021.