Commerzbank Confirms 4,000 to 6,000 Job Cuts

Germany's second-largest lender Commerzbank has confirmed that it will cut between 4,000 and 6,000 jobs worldwide by 2016.

Hannelore Foerster | Bloomberg | Getty Images

The bank said the cuts are part of cost savings outlined in its strategic agenda in November.

(Read More: Barclays Plans to Cut 2,000 Investment Banking Jobs)

The company says the exact number of job losses will depend on negotiations with employee representatives in Germany and those negotiations will start in February.