Employees demonstrate with an installation of symbolically closed personnel files in front of the venue where is taking place the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Employees demonstrate with an installation of symbolically closed personnel files in front of the venue where is taking place the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Employees demonstrate with an installation of symbolically closed personnel files in front of the venue where is taking place the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Employees demonstrate with an installation of symbolically closed personnel files in front of the venue where is taking place the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Employees demonstrate in front of the venue where is taking place the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Employees demonstrate in front of the venue where is taking place the annual general meeting of Germany's Commerzbank bank, on May 20, 2026 in Wiesbaden, western Germany. Commerzbank plans to fend off a hostile takeover by Italy's UniCredit with job cuts and higher profit targets. The Frankfurt-based bank announced earlier in May 2026 that it will cut a further 3,000 jobs by 2030 and raised its business targets. Lower costs and higher profits are driving up the share price, making a potential takeover more expensive. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Director-General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala (R) speaks at a discussion with Chairman of Keidanren (Japan Business Federation) Yoshinobu Tsutsui (L), and others in Tokyo on May 20, 2026. (Photo by Kazuhiro NOGI / AFP via Getty Images)

Director-General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala (3rd R) and Chairman of Keidanren (Japan Business Federation) Yoshinobu Tsutsui (L) attend a discussion in Tokyo on May 20, 2026. (Photo by Kazuhiro NOGI / AFP via Getty Images)