Business & Finance

Deutsche Bank to cut up to 1,000 jobs in Postbank integration

Published December 20, 2017 Updated December 20, 2017 11:40pm

Up to 250 jobs could be affected at Deutsche Bank and up to 750 at the Postbank unit, the paper said, adding the bank hoped about two-thirds of the reductions could be achieved via early retirement and the rest through severance pay.

Employees have until October 2018 to decide, the paper said.

Postbank is currently being integrated into Deutsche Bank after Germany's biggest lender unsuccessfully tried to sell the business.

Copyright Reuters, 2017