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Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive

February 5, 2024

The German investment bank says the cuts will mainly apply to “non-client-facing areas” as it looks to streamline its business in Germany and lower its annual total operating cost to €20 billion by 2025. Deutsche Bank currently employs around 90,000 people worldwide.

This business optimisation – which will largely pertain to the bank’s infrastructure and technology – will include the de-commissioning of certain applications, the installation of “simplified workflows and automation” and a “front-to-back process redesign”.

Deutsche Bank says it made “further progress” in its operational efficiency programme during 2023 – part of its Global Hausbank strategy. It claims its actions over the year generated €350 million in savings, boosting its total savings made since the start of the programme to €900 million.

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