EMCC European Monitoring Centre on Change

Deutsche Bank

Company/Organisation:
Deutsche Bank

Geographic Location

Country: Ireland
Region: Dublin; Southern and Eastern

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 600

Employment Effects

Announcement Date: 06-07-2021
Planned Job Reductions min: 450
Planned Job Reductions max: 450
Type of Restructuring: Internal restructuring
Employment Effect Start: 06-07-2021
Foreseen End Date: 31-12-2021
Planned Job Creation: 200
Direct Dismissals: 450

Additional Information

German bank, Deutsche Bank is to cut 450 directly employed and contractor roles at its Dublin office over the course of 2021. The roles being cut are mainly in its operations and technology operations. The bank plans to relocate about 250 jobs from its Dublin office to its other centres around the world.

The changes are part of the bank's global strategy, first announced in 2019, to consolidate similar infrastructure functions into fewer locations in order to simplify its operations and reduce costs.

Meanwhile, the bank has also stated that it plans to increase approximately 35 front office jobs to its Irish Corporate Bank franchise and its Data and Innovation Lab over the summer. The decision will bring its total number of employees in these two units in Dublin to about 200. 

According to the Irish Times, Deutsche Bank currently employs approximately 400 workers and a further 200 contractors.

For previous restructuring cases related to Deutsche Bank in Ireland, see Deutsche Bank-IE-2016, and Deutsche Bank-IE-2013

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