Commerzbank Cuts IT Spending Again
ORGANIZATION AND STRATEGY
FRANKFURT--Commerzbank will extend last year’s cost-cutting program throughout 2002 with another €110 million to come off of its IT projects.
Planned IT projects in the pilot phase were stopped before they began. A Commerzbank spokesperson says major system acquisitions are unlikely. However, the bank will do what is necessary to keep systems running, unless it finds one system that can replace several that are running now, delivering an overall saving.
Spending cuts will affect the front and
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