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Deutsche Bank poised to reach pact with union over 1,000 lay-offs

The bank struck an agreement with its works council to eliminate 3,000 full-time positions

Deutsche Bank

Aaron Kirchfeld & Jan-henrik Foerster 

Deutsche Bank is poised to reach an agreement with labour representatives this week that will pave the way for the German lender to eliminate about 1,000 jobs in its home market as part of Chief Executive Officer John Cryan's cost cuts announced last year, said people with knowledge of the matter. The planned job cuts, which need to be signed off by the works council, will mostly affect back-office staff such as in information technology services, said the people, who asked not to be identified because negotiations are private. The Frankfurt-based lender in June struck an agreement with ...

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First Published: Tue, October 04 2016. 00:09 IST