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
6,400 jobs Number of planned job losses
1,200 jobs Number of planned job creations
Announcement Date
3 February 2005
Employment effect (start)
Foreseen end date
Description
Deutsche Bank has unveiled plans to cut 3,280 jobs outside Germany at the same time as it announced its annual net profit had risen by 87%.
Germany's biggest bank said the job cuts come on top of the 1,920 announced last December.
A total of 6,400 jobs are set to disappear, as the bank said that 1,200 more posts will be transferred to countries with low wage costs.
Deutsche Bank did not say where the jobs would be cut but said that jobs would be transferred from Germany to Eastern Europe and Asian countries such as China and India.
Sources
3 February 2005: BBC News
12 February 2005: Rzeczpospolita
Citation
Eurofound (2005), Deutsche Bank, Internal restructuring in World, factsheet number 61125, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61125.
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