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Negotiations on branch closures ongoing: Deutsche Bank cuts 175 jobs in Bonn

Negotiations on branch closures ongoing : Deutsche Bank cuts 175 jobs in Bonn

The Deutsche Bank plans to cut a total of 350 jobs at its headquarters in Frankfurt and in Bonn. The job cuts also have consequences for the Postbank move to the Neuen Kanzlerplatz.

Deutsche Bank continues its job cuts, and this time it also affects the Bonn location. About 175 jobs are being cut in Bonn. Altogether, a total of 350 jobs are being cut in the headquarters of the private customer business. The other job cuts are mainly in Frankfurt but some jobs were also cut in Düsseldorf, Berlin and Hanover, a press spokesman said in response to an inquiry.

After several years of losses, Deutsche Bank is currently undergoing a major restructuring process, including the reduction of around 18,000 full-time jobs worldwide to 74,000.

The elimination of jobs should be completed by the end of 2022. At the beginning of the year, the bank announced that 10,000 jobs had already been cut.

The compromise that has now been negotiated with the works councils and unions includes job cuts in the areas of company organization, customer management and product management. A company spokesman explained that the basis for these cuts is the social plan of December 2017, which is designed to make the job cuts as socially acceptable as possible. Early retirement schemes and part-time work schemes for older employees should be used.

The restructuring process also includes the technical integration of Postbank

"The aim is to create leaner management structures, eliminate duplicate functions, optimize processes and place the organization's future focus on core services," it was said. "In this way, the retail bank in Germany will secure its competitiveness, be able to implement growth initiatives more easily and quickly and gain additional leeway for further investments.”

The restructuring process also includes the technical integration of Postbank. The bank is now separating from its IT subsidiary Postbank Systems, which is being purchased by the Indian software service provider Tata Consultancy Services (TCS). The companies announced the deal three weeks ago. By 2022, Deutsche Bank wants to merge its IT infrastructure with that of Postbank, so that the tasks of Postbank Systems will be fewer.

Up to now, Postbank has had about 3,000 employees in Bonn

The question now arises as to what this means for the Postbank's move into the buildings on Neuen Kanzlerplatz, where it was expected to become the largest tenant.

Up to now, the Postbank has had around 3,000 employees in Bonn, spread out over nine locations. Three quarters of the 60,000 square meters of floor space at Neuer Kanzlerplatz were reserved for Postbank. However, a third of this space is occupied by Postbank Systems, which will soon no longer be part of the company.

"We will move into the property," Postbank spokesman Alexander Adler explained on Tuesday in response to an inquiry from our newspaper. But it was clear that fewer employees would be moving into the building complex. "We have to talk to the landlord to see what will be the best solution," said Adler.

(Orig. text: Ulla Thiede/Translation: ck)