Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

485 jobs
Number of planned job losses
Job loss
Announcement Date
4 October 2018
Employment effect (start)
1 November 2018
Foreseen end date
31 December 2022


DZ Bank has announced plans to cut 485 jobs. The bank aims at increasing its incomes by 3.5 per cent per annum by 2022, keeping its position as one of Germany's leading banks. In order to reach its target, DZ Bank is looking to further digitise its operations and reduce its staff. The bank has started negotiations with the work council, in an attempt to find alternative job reduction measures instead of direct dismissals.

In 2016, DZ Bank merged with its sister company WGZ Bank resulting in a loss of about 700 full- time positions.



Eurofound (2018), DZ Bank, Internal restructuring in Germany, factsheet number 95949, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95949.