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 Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66.11 - Administration of financial markets
250 jobs Number of planned job losses
Announcement Date
7 February 2013
Employment effect (start)
1 March 2013
Foreseen end date
1 January 2016
Description
On 7 February 2013, Deutsche Börse has announced to its employee representatives to cut 250 positions by 2013. The group will cut about 125 positions in Luxembourg - at its subsidiary Clearstream - and 125 jobs in Frankfurt, Germany.
It is reported that the bank took this decision in the context of a cost saving plan of about 70 million Euros per year. The management highlights that it will propose voluntary departures and other socially responsible measures to decrease its workforce and will avoid forced dismissal.
Deutsche Börse employs 3,600 employees.
Sources
6 February 2013: Paperjam
7 February 2013: Paperjam
5 February 2013: Bloomberg
Citation
Eurofound (2013), Deutsche Börse, Internal restructuring in European Union, factsheet number 74954, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74954.
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