Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.92 - Other Credit Granting

600 - 700 jobs
Number of planned job losses
Job loss
Announcement Date
25 July 2024
Employment effect (start)
25 July 2024
Foreseen end date
31 December 2025

Description

As announced on 25 July 2024, the German credit bank DKB, a subsidiary of BayernLB, plans to cut 15% of its 5,000 positions by the end of 2025. This corresponds to 600 to 700 jobs.

The bank is undergoing a transformation process. An efficiency program is intended to prevent an increase in personnel costs. This program is a response to inflation, low demand for credit, and anticipated salary increases from ongoing collective bargaining negotiations.

The bank had a total balance sheet of €134 billion in 2023.


Sources

Citation

Eurofound (2024), DKB, Internal restructuring in Germany, factsheet number 201985, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201985.