Commerz Cuts to Have Limited Effect
FRONT PAGE: ORGANIZATION & STRATEGY
Analysts predict only minor fallout for Reuters after a recent decision by German bank Commerzbank to cut 900 investment banking staff. However, both Reuters and Bloomberg are likely to lose positions.
Commerzbank is making the cuts because it is pulling back from international trading operations to focus on its core German market. The bank plans to cut 490 of its 1,275 front-office staff and halve its back-office staff from 800 to 390 over the next few months. In the front office, the bank is
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