Deutsche Bank to Lay off 250 Roles in Dublin Operations

Fazzaco learned that Deutsche Bank, Germany's largest bank, has announced its plan to lay off 250 roles in Dublin operations to cut costs, as 440 roles are made redundant by the major lender.

At the same time, the bank will add 35 front office jobs to expand the corporate banking team in Dublin, ultimately leading to a workforce of about 200 employees there. 

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Established in 1991, the Ireland office had 408 employees in Ireland at the end of 2020. Dublin office will be left with 160 employees after the restructuring. It says the proposed changes “will not impact the service provided to the bank’s clients”.

Mary Campbell, chief country officer at Deutsche Bank Ireland, commented, “We understand that the proposed plan will cause uncertainty and concern to impacted colleagues. We are committed to supporting them through the consultation process. Dublin will continue to be an important centre for the bank.”

Recently, Deutsche Bank launched a new set of Foreign Exchange indices to track 21 Emerging Markets (EM) currencies​, reflecting the growing importance of EM as an asset class. The set of four new non-tradable foreign exchange indices were developed by Deutsche Bank's EM research team to help investors more comprehensively track performance of emerging markets currencies.