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Deutsche Bank to cut 1,950 jobs in Postbank integration: Handelsblatt

Reuters  |  FRANKFURT 

(Reuters) - is planning to cut 1,950 jobs as part of the integration of its business, newspaper reported, citing people familiar with the matter.

The will cut about 750 jobs by 2020 in the joint headquarters of Deutsche Bank's private and corporate clients business, while another 1,200 will go by 2022 in the area of operations, which includes and credit settlement, the paper said.

A for the declined to comment.

is in the process of integrating Postbank, the business once owned by the German postal service, with its own operations to save costs.

The new business will have 20 million customers with about 325 billion euros ($366 billion) in deposits, according to

(Reporting by and Editing by Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 23:40 IST
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