Deutsche Bank is expected to cut 2,000 jobs this year, significantly reducing its branches
Deutsche Bank plans to cut nearly 2,000 jobs in its retail banking division and significantly reduce the number of branches. CEO Christian Sewing stated at a financial conference that the layoffs and branch reductions are in line with this year's business plan. Last year, Deutsche Bank closed 125 branches, but the specific number of closures for this year has not yet been disclosed. The company has set aside related restructuring costs
Christian Sewing, the CEO of Deutsche Bank, stated that the bank will lay off nearly 2,000 employees in its retail banking division this year and significantly reduce the number of branches.
Speaking at a financial conference on Wednesday, Sewing indicated that Deutsche Bank is prepared to proceed with layoffs and branch reductions as outlined in this year's business plan, with the branches being cut including those of Deutsche Bank itself and its subsidiary, Deutsche Postbank.
Deutsche Bank closed 125 branches last year, but Sewing did not disclose how many branches would be closed this year.
Sewing also mentioned that the relevant restructuring costs have already been reserved
