Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

1,860 jobs
Number of planned job losses
Job loss
Announcement Date
24 November 2005
Employment effect (start)
1 January 2006
Foreseen end date
31 December 2009


Dresdner Bank, the second largest German Bank belonging to giant Allianz, is to reduce its workforce in Germany by 1,860 employees by 2009. The reduction is slightly smaller than it was previously announced. Dresdner intended to cut almost between 2,000 and 3,000 jobs. However, there shall be no dismissals. If the bank reaches its financial goals for 2005, another 160 employees, whose positions are at risk, will be held. The cost-cutting effort is part of a so-called 'profitability and growth programme'. In 2005, some € 400 million have been spent to finance the restructuring programme so far.


  • 25 November 2005: Frankfurter Allgemeine Zeitung
  • 21 December 2006: Frankfurter Allgemeine Zeitung


Eurofound (2005), Dresdner Bank, Internal restructuring in Germany, factsheet number 62561, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62561.