Postbank to eliminate approximately 1000 positions.
The Deutsche Bank intends to carry out a substantial restructure within its subsidiary, Postbank. Close to 1000 positions across the Postbank branch network are likely to be eliminated. As a whole, the bank aims to reduce its workforce as well.
As reported by Handelsblatt, these job reductions will occur due to the closure of Postbank branches, a decision apparently reached during an early June meeting between management and the works council. Insiders claim that this decision was a result of a compromise in an interest reconciliation.
Previously, Deutsche Bank had announced its intention to transition to online banking at Postbank, planning to decrease its network of 550 branches. Sources confirm that agreements have been reached to safeguard over 320 Postbank branches.
A Deutsche Bank representative has responded to the newspaper report, stating that the positions to be eliminated are already accounted for in the publicly disclosed staffing plan. The spokesperson emphasized that all measures reflect the bank's financial planning and help it meet its financial targets. The spokesperson refrained from commenting on the alleged number of 1000 positions to be eliminated.
Approximately 3500 jobs to be eliminated group-wide
Deutsche Bank had revealed plans to cut approximately 3500 jobs group-wide a few months back. As per a Verdi statement from early May, an exclusion of job cuts attributable to operational reasons for Postbank employees has been agreed upon until the end of December 2027.
The Deutsche Bank representative added that job cuts in customer advisory services at the subsidiary are not on the agenda. All customer advisors will keep their jobs, either at other branches or at one of the eleven regional advisory centers currently being set up for advisory services via video and telephone.
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Despite the job cuts at Postbank, Deutsche Bank has assured that all customer advisors within the subsidiary will retain their positions, either at other branches or at the newly established regional advisory centers. Additionally, Banks like Deutsche Bank and Postbank are not immune to broader trends, as Deutsche Bank announced plans to eliminate nearly 3500 positions group-wide a few months ago.
