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    Home»News»Deutsche to lay off some 7,000 employees
    News

    Deutsche to lay off some 7,000 employees

    mmBy Prajjal Saha | HRKathaMay 28, 20181 Min Read1185 Views
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    The number of full-time equivalent positions is expected to fall from the current 97,000+ to well below 90,000.

    Deutsche Bank is all set to significantly reshape its equities sales and trading business. Overall, the Bank aims to reduce headcount in this area by approximately 25 per cent, which means it will have to lay off some 7,000 employees from across the world.

    In cash equities, it will concentrate on electronic solutions and its most significant clients globally. In prime finance, the Bank will reduce leverage exposure by a quarter, equivalent to a reduction of approximately €50 billion.

    Together with its decision to right-size the expense base in the corporate & investment bank, Deutsche Bank will accelerate the pace of cost reduction across the organisation. In 2018, as already announced, the Bank envisages adjusted costs not to exceed €23 billion. For 2019, the management board plans to reduce adjusted costs to €22 billion, with no further significant disposals currently planned.

    In connection with the implementation of these plans, the number of full-time equivalent positions is expected to fall from just over 97,000 currently, to well below 90,000. The associated personnel reductions are underway, the bank revealed in a statement.

    BFSI Deutsche Layoff
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    Prajjal Saha | HRKatha

    Dr. Prajjal Saha, editor and publisher of HRKatha since 2015, leverages over 25 years of experience in business journalism, writing, and editing. He founded HRKatha to provide insightful analysis on the evolving workplace. With expertise spanning HR, marketing, distribution, and technology, Saha has a deep understanding of business dynamics. His authorship of the acclaimed Marketing White Book highlights his versatility beyond HR. A trusted voice across industries, his clear and thoughtful commentary has earned him a reputation for thought leadership, making him a reliable source of knowledge and insights for professionals navigating the complexities of the business world.

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