Deutsche Bank is slashing hundreds of jobs in Dublin in a re-organisation of its back-office operations. The job cuts will leave Deutsche Bank with just 200 workers in Dublin in a dramatic reduction of its commitment to Ireland as an investment location. “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,” said Mary Campbell, chief country officer of Deutsche Bank Ireland. The bank said in a statement that Dublin would remain “a major centre” for Deutsche Bank’s corporate bank business and that it would be adding 35 roles to that unit this summer. Ulster Bank’s performing assets are likely to be divided between AIB and Permanent TSB, with non-performing loans and possibly some specialist loan books being sold to non-bank buyers.

Source: Irish Independent July 06, 2021 10:30 UTC