NEWS: The merger of Deutsche Bank and Deutsche Chamber of Commerce may result in 30,00

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Jan Duscheck, a representative of the German Service Trade Union (Verdi) and a member of Deutsche Bank's board of supervisors, told n-tv that the merger of DBKGn.DE and CBKG.DE could lead to the dismissal of up to 30,000 jobs in the long run.
According to a source close to Deutsche Bank's main investor, the investor also expressed doubts about the potential acquisition.
Deutsche Bank and Deutsche Chamber of Commerce confirmed the merger rumors on Sunday and were strongly opposed by trade unions. Shareholders also expressed reservations, highlighting the obstacles to the merger efforts of the two largest banks in Germany.
Duscheck said most of the 30,000 jobs affected were in Germany, according to comments broadcast Monday by n-tv. In the short run, 10,000 jobs are at risk.
However, the initial reaction of the market to mergers is positive. At 0829 GMT, Deutsche Bank's shares rose 3.3% and Deutsche Chamber's shares rose 4%.
The supervisory boards of the two banks met on Thursday to discuss the merger proposal.
Concerned about the health of Deutsche Bank, the German government pushed for the merger of the two banks. Deutsche Bank has been working to achieve sustainable profits since the 2008 financial crisis.


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