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6,000 job cuts planned for Commerzbank

Germany's second-biggest lender Commerzbank is planning to cut as many as 6,000 jobs, or more than 10% of its workforce.

The bank said it wants to cut between 4,000 and 6,000 full-time employees by 2016. Commerzbank currently employs 56,000 staff, of which 49,000 are full-time.

Stephen Evans reports.