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Deutsche Bank has carried out a three -year attitude stroll, which reversed almost all strong cuts for jobs, which was imposed by Chief Executive Christian Sewing at the beginning of his term of office, and underlines the extent of the challenge with which the bank lowers the costs.
The increase in staff focused on back office roles that do not achieve any income, such as a financial time analysis, even when the German lender invested billions of euros in it in order to automate some of these functions and optimize workflows.
The inflated personnel amount was an unsolvable problem for Germans and hindered the bank’s efforts to control the costs. Although sewing has been successful from the bank’s non-interest rate costs since the end of 2018-and has increased the income by 19 percent, he has cost five times since 2021, most recently in the last month.
At the beginning of the greatest restructuring of the generation in 2019, sewing promised to shave 18,000 jobs from the bank’s 92,000 strong seasons by 2022.
The lowest, which he managed, was 83,000 in the late 2021.
In the three years since then, the number of employees of non-cliental employees rose by 11 percent, while the number of front office bankers remained stable and the total number of German employees at almost 90,000 increased close-ups at the beginning of the sewing cuts .
The extensive “infrastructure functions of Deutsche Bank”, which includes the personnel department, the company, the risk, compliance, compliance, IT, law and communication, was increased to 58,000 employees at the end of last year, compared to 52,000 at the end of 2022.
Deutsche Bank has reported since 2018 that the bank’s front office halved to 32,000 during Sewing during Sewing, while the number of back office workers almost doubled to 58,000.
The lender announced that his annual disclosures for job numbers were “not comparable” before 2022, with the current revealed, since it had “adapted several times” the methodology in recent years. Jobs that were previously counted as the front office have now been concluded as back office back office.
In the retail unit of Germans, who have closed 757 branches since 2018-, however, a third of their global network HAT with the consequences of a botched IT integration problems from the FT analysis, which are organized by customers, shows the FT analysis.
The bank announced that the increase in the back office staff was partly the result of the strengthening of the “technology and controls”.
For years it has been struggling to deal with regulatory examination of the conformity, transaction monitoring and anti-money laundering controls. Germans also needed additional workers to develop a gap to topics that were associated with the restless migration of the Postbank of the retail brand into the group’s systems.
A high -ranking banker announced the FT that internal workflows had become extremely slow and cumbersome. “In some cases, they need more than 50 signatures to bring a single new provider on board,” they said. Deutsche Bank denies the number of signatures and explains that “often some signatories are sufficient”.
The bank also said that it has replaced expensive external IT workers by her own employees. While this increased the number of employees directly employed by the bank, German said that it was cheaper to employ them internally.
In 2024, the bank lowered 3,500 back office jobs and replaced 1,800 contractors, as their latest submissions show. At the same time, they commissioned 1,300 “tech specialists” and 400 employees of the income. However, the overall burden only decreased by 400.
