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 64.19 - Other monetary intermediation
300 jobs Number of planned job losses
Announcement Date
5 March 2014
Employment effect (start)
5 March 2014
Foreseen end date
1 January 2016
Description
German banks Deutsche Bank and Postbank are merging their service units, where 300 jobs are to be cut by 2016.
The merger will be implemented until 1 April 2014. The new service unit PBC Banking Services will employ about 10,000 people.
There will be no forced redundancies. The bank aims at cutting jobs via partial retirement and early retirement schemes. A severance scheme has been negotiated.
Since 2010, Deutsche Bank owns the majority share of Postbank. Deutsche Bank fully integrated Postbank in 2011.
Sources
5 March 2014: Süddeutsche Zeitung (Online)
Citation
Eurofound (2014), PBC Banking Services, Merger/Acquisition in Germany, factsheet number 76688, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76688.
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