Deutsche Bank is planning to cut 1,950 jobs as part of the integration
of its Postbank business, newspaper Handelsblatt reported, citing people
familiar with the matter.
FRANKFURT: Deutsche Bank is planning to cut 1,950 jobs as part of the
integration of its Postbank business, newspaper Handelsblatt reported,
citing people familiar with the matter.
The bank will cut about 750 jobs by 2020 in the joint headquarters of
Deutsche Bank's private and corporate clients business, while another
1,200 will go by 2022 in the area of operations, which includes account
services and credit settlement, the paper said.
A spokeswoman for the bank declined to comment.
Deutsche Bank is in the process of integrating Postbank, the retail
banking business once owned by the German postal service, with its own
retail banking operations to save costs.
The new business will have 20 million customers with about 325 billion
euros (US$366 billion) in deposits, according to Deutsche Bank.
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