Financial industry: Deutsche Bank strokes around 2,000 jobs

Deutsche Bank plans to delete around 2,000 jobs in the current year and further reduce the number of its branches. CEO Christian Sewing spoke at a conference organized by Morgan Stanley of a “significant number” of branches. The costs for the job cuts have already been provided, said the manager.

Deutsche Bank has repeatedly closed branches in recent years to press the costs and announced a further breakdown.

A group spokesman said that the branch closures were already known measures. In the course of this and in the event of savings in the back office, i.e. when processing customer -related business processes, the above -mentioned bodies would be omitted. There is no new savings program.

Fewer branches, more advice via video and telephone

Deutsche Bank announced last September that it wants to advise private customers more by video and telephone and at the same time wants to close an “medium double -digit number” of smaller branches. In the course of this, the DAX group announced negotiations with the works council. The institute employs around 90,000 people worldwide. In Germany alone, Deutsche Bank operates around 380 branches and 470 at Postbank.

CEO Sewing only announced a new renovation program at the end of January entitled “Deutsche Bank 3.0”. This is how management sees potential to reduce costs through slimmer hierarchies and more use of artificial intelligence. Sewing wants to make the bank more efficient: In 2025, the return on equity is to increase to more than ten percent after 4.7 percent last year.

In 2024, Deutsche Bank did less than expected: Before taxes, it earned just under 5.3 billion euros and thus seven percent less than a year earlier.