230967 com titel gb 02 e

Data on Commerzbank’s personnel* )
Restructuring measures
In addition to meeting the requirements of the cost-cutting offensive, important
restructuring measures were tackled. The reorganization of credit business and
asset management, the hiving-off of business facility management and repositioning
in retail banking similarly involved a marked reduction in the workforce.
With the measures mentioned above – cost-cutting, the shedding of jobs and
restructuring – personnel costs in the past financial year were lowered by 7387m
to 72,679m, representing a 12.6% reduction.
We thank our staff
Staff cuts can only be implemented in a rapid and targeted manner given
constructive cooperation between management and employee representatives.
Here, we should like to thank the local staff councils, the central staff council and
also the senior staff spokesmen’s committee, the representatives of the physically
disabled and of the Bank’s younger staff for the responsible way in which
they cooperated to develop mutually acceptable solutions, which were in the
interest of both the Bank and its employees.
Manager training in times of upheaval
In economically strained times in particular, the managerial quality of superiors
plays a crucial role in unfailingly meeting the mounting demands of a constantly
changing environment. This is reflected in our rigorous development of executive
personnel, realized through the systematic use of selection procedures and
the subsequent management circles (A to C). Here, standards are defined across
all levels of management and the development of in-house potential is encouraged.
STAFF AND WELFARE REPORT 47
2002 2001 Change in %
Total staff Group 1) 36,566 39,481 –7.4
Permanent staff Group 2) 33,224 36,053 –7.8
Total staff Parent Bank 1) 28,343 30,021 –5.6
including: based abroad 2,604 2,552 2.0
including: trainees 1,530 1,651 –7.3
Permanent staff Parent Bank 25,303 26,693 –5.2
Years of service
more than 10 53.2% 50.8%
more than 20 21.0% 22.2%
Total pensioners and surviving dependants 11,267 10,892 3.4
including: those retiring during the year 446 519 –14.1
those entering early retirement 291 182 59.9
Older staff on part-time scheme 316 235 34.5
*) Actual number employed; 1) including local staff in representative offices and cleaning and kitchen personnel, excluding staff on maternity leave and
long-term sick; 2) employees, excluding trainees, junior executive staff, temporary staff, volunteers, cleaning and kitchen personnel, staff on maternity
leave and long-term sick.