Internal restructuring
Luxembourg (Grand-Duché); Luxembourg (Grand-Duché); Luxembourg (Grand-Duché)
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.99 - Other financial service activities, except insurance and pension funding n.e.c.

175 jobs
Number of planned job losses
Job loss
Announcement Date
2 August 2013
Employment effect (start)
15 August 2013
Foreseen end date
31 December 2013


The German group Deutsche Bank is implementing a restructuring of its luxembourgish subisdiaries that will affect 175 positons (23% of its workforce). 

In the framework of this cost saving plan, the group will cut 104 positions out of a total of 157 by Deutsche Postbank International SA; 33 positions out of a total of 300 employees by Deutsche Bank Luxembourg; 26 positions out of a total of 166 by Oppenheim Luxembourg and 12 positions out of a total of 137 by DWS Investment SA. 

The management and the unions OGBL/SBA, ALEBA and LCGB-SESF reached an agreement on the content of the social plan on the 10 September. 


  • 2 August 2013: Le Quotidien


Eurofound (2013), Deutsche Bank, Internal restructuring in Luxembourg, factsheet number 75855, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75855.