Commerzbank, Germany’s second-largest bank by assets, is set to cut 1,800 jobs in its retail branches as part of wider job cuts.

The bank said it would do "everything to avoid operational redundancies" to the largest possible extent.

Commerzbank said compulsory redundancies will not be made until the end of 2014, if it is successful in cutting 600 jobs by the end of 2013.

At the end of 2014, management will talk to labour representatives about further job cuts.

A spokeswoman for Commerzbank said the branch business would be consistently remodelled in the coming years to ensure the future viability of the bank.

She added: "In the framework of the remodelling, the bank will guarantee the actual functional capability of the individual branches at all times.

"In particular, this means the establishment of working conditions which do not lead to any isolation of employees, but which are consistent with employee protection legislation and the duty of care on the part of the employer."

In January, Commerzbank announced 4,000-6,000 jobs would go across its operations by 2016 as part of its strategy to reduce costs and increase revenue.

Commerzbank currently has 1,200 German branches.


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