Towards a possible merger of Deutsche Bank and Commerzbank

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The Berufsgewerkschaft DHV rejects the plan of a merger between Deutsche Bank and Commerzbank respectively the takeover of Commerzbank by Deutsche Bank!

Because the fear exists that it will lead to job losses at unprecedented scale!

There are no convincing arguments in favour of such a mega merger with the threatening loss of up to 30.000 jobs!

  • Out of two « weak » institutes no global champion will arise!
  • Instead of responding to new challenges such as Fintechs, the new office will be busy with itself for years to come – see Postbank and Deutsche Bank: even 10 years after the announced merger the process is finally completed!
  • The employees of both banks currently perform great efforts to overcome past management errors and the to master digitalisation. This would destroy everything in one blow.
  • In a merger exactly that would be accomplished, what after the experiences of the financial crisis should be prevented: A bank too big to fail – the system risk will rise!
  • An acquisition by a foreign institution will also after a merger not be excluded! The employed would be exposed to a renewed workforce and would thus bleed double!
  • And last but not least: Political pressure replaced noneconomic significance!

The burden of the employees through current restructuring and adaptation to the digitized world of work are already enormous, fear of employment will not help both banks any further!

We urge the employers to leave this project and not to relent to the pressure of the Berlin politics, individual investors or the pressure of the media!

Our appeal to the Board of Directors of Deutsche Bank and Commerzbank: do not sacrifice thousands of jobs for the wrong path!

Source: https://www.dhv-cgb.de/informationen/presseportal/2828-zur-moeglichen-fusion-deutsche-bank-und-commerzbank2019t-2

About WOW

WOW was founded as a Social Christian trade union and finds inspiration in the spiritual believe that man and universe were created by God or by persuasions coinciding with that. The increase of intercultural contacts provided opportunities for the WOW to expand and broaden its view with visions of other religious backgrounds. WOW does so in a joint attempt to build a world community based on freedom, dignity, justice and solidarity.

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