Commerzbank to cut 3000 jobs as AI overhaul targets huge profit and cost gains

AI tools already handle most customer queries—job cuts follow

Commerzbank says it will cut 3,000 jobs to fund and accelerate a €600 million AI strategy under its “Momentum 2030” plan. The move comes as pressure mounts from UniCredit’s €37 billion takeover bid. The bank expects €450 million in reorganisation costs, while using AI across service, KYC, fraud prevention and internal assistants to boost revenue and slash operational expenses.