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.

The global restructuring will continue over the next three years.

Related stories

Free newsletter

Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Please complete the form below and click on subscribe for daily newsletters from HRD Asia.

Recent articles & video

How will CNY affect your business?

Why should HR consider 'going green'?

Giving employees something to smile about

Women in leadership roles more prone to workplace harassment

Most Read Articles

Why HR should be 'more involved' in cybersecurity

Singapore firm charged for unfair hiring

What will HR look like in 2020 and beyond?