Commerzbank is spending 470 million euros to cut a total of 1,700 full-time positions by the end of 2021. The job cuts are to be implemented primarily through partial retirement, social retirement schemes and early retirement. In order to attract many employees, Commerzbank is paying generous "sprinter bonuses" of between €30,000 and €60,000 upon conclusion of a termination agreement as part of the voluntary redundancy programme.
Free initial assessment by a specialist lawyer for labour law
If you have received a termination agreement or other offer with a severance payment from Commerzbank and you are not sure whether the amount of the severance payment and the remaining termination conditions are favourable for you, contact a specialist lawyer promptly and seek advice from them.
We will advise you free of charge as part of an initial assessment meeting.
Have the amount of severance pay reviewed
Those affected who receive a cancellation agreement from Commerzbank should not sign it too quickly. The settlement modalities and, above all, the amount of the severance payment should always be checked and renegotiated by a lawyer. In order to achieve more favourable results, you should contact a lawyer specialising in employment law. Otherwise, you risk financial disadvantages if you conclude a contract prematurely.
Request time for reflection
Commerzbank employees who have received a specific redundancy offer should not sign under time pressure. Ask your employer for a period of reflection. During the cooling-off period, you can have the offer reviewed by a specialist labour lawyer and, if necessary, have it renegotiated by a lawyer.
Those affected can contact Ms Filippatos without obligation and arrange a free initial consultation.
Attorney Filippatos is an experienced lawyer in the field of labour law. She specialises in negotiations relating to the conclusion of termination agreements, renegotiation of severance offers and protection against dismissal.
Severance payment
Severance pay is a one-off compensation payment that an employee can receive from their employer in the event of dismissal or when concluding a termination agreement. There is no legal entitlement to a severance payment. With this in mind, it is advisable to consult a lawyer during the termination negotiations.
Questions about the amount of severance pay
If you have questions about the amount of severance pay and the drafting of a termination agreement, call Neshe Filippatos. She will answer the most important questions as part of a free initial assessment.
If you have legal expenses insurance, we will request a cover note from the insurance company free of charge.
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