You are here

Deutsche Bank to cut most German jobs in private client ops: Handelsblatt

25111530803244 - 19_02_2014 - GERMANY DEUTSCHE BANK.jpg
Deutsche Bank's private clients business is to shoulder the lion's share of planned job cuts in Germany, daily Handelsblatt reported on Wednesday, citing a memo to the lender's works council.

[FRANKFURT] Deutsche Bank's private clients business is to shoulder the lion's share of planned job cuts in Germany, daily Handelsblatt reported on Wednesday, citing a memo to the lender's works council.

Deutsche Bank said last month it would slash 15,000 jobs and shed businesses employing some 20,000 staff. Around 4,000 cuts, net of new hires, are to be in its German home market.

According to Handelsblatt, the Private & Business Clients division is to see more than 3,200 jobs, or about a quarter of staff, go on a gross basis.

It cited financial sources as saying most of the workers who are to lose their jobs work in the bank's retail branches.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom