People familiar with the matter were reported by media sources as saying that the proposed redundancies, which equate 10% of its total workforce, will be implemented across the group operations.
The exact number of job cuts will be announced later, as the lender is currently in negotiations with the bank’s labor representatives.
In January this year, the bank said that it will eliminate approximately 4,000 to 6,000 full-time jobs by 2016, under its four-year restructuring program.
Previously, the lender said that it plans to reduce 1,800 positions at its retail banking business by the end of 2015, although no branch offices will be closed due to job cuts.
Commerzbank, 17% owned by German government, employs 53,000 staff at group level.
