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Deutsche Bank plans 'significant' branch reduction and 2,000 fewer staff in 2025

Deutsche Bank will reduce branches by a "signficant" number this year and trim headcount of the retail bank by around 2,000 people in 2025, Chief Executive Officer Christian Sewing said on Wednesday.
Deutsche Bank announced plans to significantly reduce its branch network and workforce by 2025, aiming to cut around 2,000 jobs primarily in its retail division. This decision is part of a broader strategy to adapt to the digital transformation in banking, where customer interactions are increasingly moving online. The bank intends to close approximately 250 branches, reducing its physical presence by about a third. This move reflects a shift towards digital banking services, with Deutsche Bank focusing on enhancing its online and mobile banking platforms to meet changing customer expectations. The reduction in staff and branches is also expected to help the bank achieve cost savings, aligning with its ongoing efforts to improve profitability and efficiency.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/deutsche-bank-plans-significant-branch-reduction-2000-fewer-staff-2025-2025-03-19/ ]