Deutsche Bank to scrap 600 jobs in the Netherlands
Deutsche Bank is to scrap a further 600 jobs at its Dutch offices, according to banking unions on Tuesday.
The figure represents 40% of the total workforce at Deutsche Bank Nederland.
Most of the jobs are currently filled by former ABN Amro bankers. They found themselves working for the German bank when it bought a number of activities which ABN Amro was ordered by Brussels to sell when it merged with Fortis Nederland in 2010.
Deutsche Bank already carried out two rounds of redundancies in its Dutch office network, but this time the job losses will affect bankers, banking union De Unie told the Financieele Dagblad.
The integration of ABN Amro network with that of the German bank has not run smoothly. Last year, Deutsche Bank found that much of the Dutch client list was loss-making and 18,000 of the 24,000 Dutch clients were told to move their account elsewhere.
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