“We understand that the proposed plan will cause uncertainty and concern to impacted colleagues, and we are committed to supporting them through the consultation process,” Ireland country head Mary Campbell said. “Dublin will continue to be an important center for the bank.”
The cost reductions are part of a four-year turnaround strategy unveiled by Chief Executive Officer Christian Sewing in mid-2019. The plan includes eliminating 18,000 positions across the bank.
Deutsche Bank had 408 employees in Ireland at the end of 2020, according to its latest annual report. The lender generated 27 million euros of revenue in the country and made a pretax profit of 1 million euro.
By Steven Arons — Bloomberg Mercury