AOL.com Video - Daily Digit: Commerzbank's Job Cuts

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Daily Digit: Commerzbank's Job Cuts

Description:6,000 is today's daily digit in Europe - the number of jobs under threat at Commerzbank. Germany's second-biggest lender plans to cut up to 12 percent of staff by 2016. It may also cut pay and outsource some services. Like other European lenders it's grappling with low interest rates and increased costs from tougher bank rules. The move follows an announcement last year to invest 1 billion euros in retail banking. (0:51)

Source: Reuters

Tags: reuters , commerzbank , europe , unicredit