The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
800 jobs Number of planned job losses
Announcement Date
27 April 2023
Employment effect (start)
Foreseen end date
Description
The German financial services provider Deutsche Bank, headquartered in Frankfurt am Main, has announced the reduction of around 800 jobs.
The background to the job cuts is Deutsche Bank's goal to further increase profits and reduce costs over the next few years. The job cuts will affect all areas of the bank, with a focus on non-client-facing management functions and targeted job reductions at management level. It is not yet known when and by when the job cuts will be completed.
Deutsche Bank employed a total of 86,712 people and reported net profit attributable to shareholders of €1.158 billion ($1.28 billion) in the first quarter of 2023.
Eurofound (2023), Deutsche Bank, Internal restructuring in Germany, factsheet number 109165, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109165.
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