As a result of the forthcoming merger between Commerzbank and the Luxembourg subsidiary of Dresdner Bank scheduled for 1 April, 180 jobs are threatened. It remains to be seen as to whether these will be voluntary redundancies or dismissals.

The Luxembourg subsidiary of Dresdner Bank will become the centre for Wealth Management for Commerzbank which will inevitably lead to the loss of 180 jobs.

Yesterday, unions were in talks with management regarding a social plan. According to ALEBA no dismissal should take place within the next two years and should therefore only be voluntary departures.

However nothing has been set in stone yet, and what will happen after these two years remains to be clarified.

Full details are expected on Monday.