Deutsche Bank Investment Banking

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
500 jobs
Number of planned job losses
Job loss
Announcement Date
5 October 2011
Employment effect (start)
5 October 2011
Foreseen end date
31 December 2012

Description

Josef Ackermann, the CEO of Deutsche Bank, announced that 500 jobs (out of over 10.000) will be cut within Deutsche Bank's investment banking branch. There is no clear information where and when the restructuring will start taking place but the job reductions are expected to happen in 2011/2012. Analysts state that the restructuring is due to the uncertainty in euro debt crisis and more job reductions could be done in the coming year.

Sources

  • 5 October 2011: Sueddeutsche Zeitung

Citation

Eurofound (2011), Deutsche Bank Investment Banking, Internal restructuring in Germany, factsheet number 72469, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72469.