: The lettering "Commerzbank" can be seen on the Commerzbank Tower in the center of the banking city.
Photo: Helmut Fricke/dpa (Photo by Helmut Fricke/picture alliance via Getty Images)Two-thirds of the jobs at Commerzbank could disappear if UniCredit successfully carries out a hostile takeover of the German lender, a Commerzbank supervisory board member warned on Tuesday.
Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC's Annette Weisbach that "we certainly hope we can avoid" a hostile takeover by the Italian bank.
"But if it [a hostile takeover] is unavoidable, we think that two-thirds of jobs will disappear, that there will be another significant cut in the branches," he said, according to a translation.
"We will see in particular that UniCredit does not want all Commerzbank customers at all, but that it focuses on the supposedly best customers, namely the wealthy customers," he added.
Persons:
Helmut Fricke, UniCredit, Stefan Wittmann, Verdi, CNBC's Annette Weisbach, Witmann, Wittmann
Organizations:
Getty
Locations:
Hesse, Frankfurt, Italian, Berlin, Commerzbank