EMCC European Monitoring Centre on Change

Deutsche Bank

Deutsche Bank

Geographic Location

Country: Italy


Sector: Financial services
Financial and insurance activities
64.19 - Other monetary intermediation
Group: Deutsche Bank

Employment Effects

Announcement Date: 28-12-2020
Planned Job Reductions min: 138
Type of Restructuring: Internal restructuring
Planned Job Creation: 110
Other Job Reduction Measures: 248

Additional Information

The banking and financial group Deutsche Bank signed an agremment with the banking trade union FABI for a process of generational change. The agreement foresees 248 voluntary exits, all taking place thorugh an incentivised retirement scheme, and 110 new open-ended hirings- targeting first employees who already worked there with short-time contracts.

The agreement is part of the renewal of the Group's collective agreement, which also entails new welfare benefits (with the ticket restaurant increased up to 7€ per day by 2022), the re-insourcing of some, previously outsourced, IT activities, and a more flexible regulation of part-time, aiming at a better work-life balance.

Trade unions expressed their satisfaction for the agreement.