Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

400 - 900 jobs
Number of planned job losses
Job loss
Announcement Date
2 November 2004
Employment effect (start)
2 November 2004
Foreseen end date
1 March 2005


Commerzbank AG will shed over 400 jobs at its loss-making investment banking arm, Commerzbank Securities, reducing the division's workforce by a third. According to The Financial Times Deutschland and Handelsblatt, Commerzbank Securities operations in New York and Tokyo would be scaled down dramatically, while jobs would also go in London and Frankfurt.

On 10 November , Commerzbank announced it would axe 900 jobs at its investment-banking operations, close the Tokyo office and scale back volatile parts of its business such as proprietary trading.


  • 10 November 2004: Süddeutsche Zeitung
  • 10 November 2004: Financial Times Deutschland
  • 4 November 2004: Financial Times Deutschland
  • 4 November 2004: Handelsblatt


Eurofound (2004), Commerzbank Securities, Internal restructuring in World, factsheet number 60734, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60734.