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
220 jobs Number of planned job losses
7 jobs Number of planned job creations
Announcement Date
7 March 2018
Employment effect (start)
4 May 2018
Foreseen end date
1 January 2025
Description
On 7 March 2018 banking and financial services company Deutsche Bank announced 220 redundancies in its Italian operations. The redundancies are part of the company's broader restructuring plan called 'Strategy 2020' and come on top the 71 redundancies already agreed upon with the trade unions in May 2017.
On 4 May 2018, Deutsche Bank and the trade unions signed an agreement on the planned redundancies which will take place on a voluntary basis and entail economic incentives. The whole process will end by 2025. The company also announced the hiring of seven new employees.
The 220 announced redundancies account for around 5% of Deutsche Bank's total workforce in Italy (4,000).
Sources
7 March 2018: Finanza Report
8 March 2018: Finanza Report
4 May 2018: Finanza Report
5 May 2018: Il Fatto Quotidiano
Citation
Eurofound (2018), Deutsche Bank, Internal restructuring in Italy, factsheet number 94180, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94180.
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