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

Tough breaks over in Germany.
Author:
Updated:
Original:
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]

Related

Layoffs Watch '15: Deutsche Bank Plans To Lighten Its Load By 35,000 Employees

But also, it's looking for a few good investment bankers if you know anyone who's interested, present Deutsche investment bankers excluded.

Layoffs Watch '16: Citigroup

The House Of Corbat is preparing to say some tough goodbyes.

Layoffs Watch '16: Bank Of America Giving Traders The Ax

The cuts are said to be going down in the U.S. circa now.

Layoffs Watch '16: Nomura

The cuts may start this week.

Layoffs Watch '15: Deutsche Bank Crunched The Numbers And Decided It Doesn't Need 23,000 Of You

The good news is that 75% of the current staff still has a job. The less good news...