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
300 jobs Number of planned job losses
Announcement Date
2 February 2009
Employment effect (start)
Foreseen end date
Description
On 10 October 2008, German banking corporation Deutsche Bank announced a 'growth and efficiency programme' which foresees the expansion of outlet centres and a reduction of all back-office activities. The company announced to cut 1,100 jobs Europe-wide in its back-office divisions concerned with credit handling and call centre activities.
According to Financial Times Deutschland, management informed the works council in January 2009 that 800 jobs are to be cut in Germany and 300 elsewhere in Europe, primarily in Poland, Spain and Italy. There is no further information on when the job cuts will occur.
Job cuts are to be implemented by merging back-office activities. According to FTD information, several sites are at risk to be closed in Germany. The bank plans to concentrate back-office activities at two sites, namely at Leipzig and at a site somewhere in the Rhine-Ruhr region. FTD notes that employees at the Leipzig site are not covered by a collective agreement.
Talks with the works council will continue in March 2009.
Sources
10 October 2008: Handelsblatt
2 February 2009: Financial Times Deutschland
Citation
Eurofound (2009), Deutsche Bank, Internal restructuring in European Union, factsheet number 68057, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68057.
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