An internal survey shows that 83 percent of Commerzbank employees oppose a merger with Deutsche Bank
FRANKFURT - About 83 percent of Commerzbank employees who took part in a staff survey are against a merger with Deutsche Bank, according to preliminary results of the poll seen by Reuters on Wednesday.
Germany’s two largest banks said in March they were in talks to merge, a tie-up that unions have said could result in the loss of 30,000 jobs. “Distance yourselves from the merger plans,” Commerzbank’s works council wrote in an open email to the bank’s management board with the results of the survey, taken during the fifth week of merger talks between the two banks.Employees’ opinions count in Germany because workers make up half of companies’ supervisory boards that usually are required to sign off on mergers.
Of 11,000 employees sent the survey, 5,500 had responded as of Wednesday morning, with many away for the Easter holiday. Of those who responded, 82.5 percent said the two banks should not merge, 13.7 percent that they should, and 3.8 percent had no opinion.
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