Layoffs Watch '16: Deutsche Bank Is Going To Go And Ax An Extra Thousand Employees

Tough breaks over in Germany.
By Nordenfan (Own work) [CC BY-SA 4.0], via Wikimedia Commons

via Wikimedia Commons

To be fair, this probably shouldn't come as much of a shock, considering 2016 will likely go down as the bank's most annusfuckinghorribilis?

Embattled German lender Deutsche Bank announced Thursday that an extra 1,000 jobs would be lost in its home nation as part of a restructuring plan. It said that it had reached an agreement with its works councils on role reductions in Germany, stating another 1,000 jobs will now be reduced in Germany, on top of initial plans for 3,000 job losses. This brings the total number of role reductions in the country to around 4,000 which is part of 9,000 jobs being reduced worldwide to make the group "more competitive" as part of its new strategy, it said.

Deutsche Bank announces extra 1,000 jobs to go in Germany [CNBC]