Deutsche Bank axes jobs worldwide

Whole teams in its Asian offices have been slashed

Deutsche Bank axes jobs worldwide

Deutsche Bank began slashing 18,000 jobs worldwide yesterday (8 July).

Whole teams in its Asian offices have been slashed, reported Reuters. The layoffs began in Sydney, then moved onto the rest of the region including Hong Kong and Singapore, before going on to Europe and US.

The bank is scrapping two of its major operations, its global equities business and some roles in its fixed income division. Hong Kong has been DB’s equities hub for Asia. Singapore is the APAC hub for its fixed income business.

Recent articles & video

How to deliver bad news

Almost 9 in 10 APAC firms to implement pay rises in 2021

Five HR concerns for Singapore’s remote workers

No jab, no job? Employer mulls mandatory vaccination for staff

Most Read Articles

2021: Here’s what your HR strategy should look like

MCO 2.0: How can HR support employees?

How to work with a manager who hates HR