Germany - Deutsche Bank restructures, 18,000 jobs lost - October 31, 2019

Deutsche Bank AG intends to make about half its planned 18,000 job cuts in Germany as it relies on savings at the retail units to lower costs, according to people familiar with the matter. This means that more than 40% of the personnel will lose their means of existence to lower costs for the company. Deutsche Bank is just one of many large lenders that have recently announced staff reductions, though its effort is the biggest by far.

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For more information, please contact Paul de Beer or Oana Ciuca, De Burcht (Scientific Bureau for the Dutch Trade Union Movement) p.t.debeer@uva.nl or the Head of communications at the ETUI, Mehmet Koksal mkoksal@etui.org.
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