Deutsche Bank to Cut Jobs at Sal. Oppenheim Wealth Manager Unit
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Deutsche Bank AG, Germany’s largest bank, is in talks with employee representatives on reducing headcount at its Sal. Oppenheim unit as the wealth manager will use more services offered by its parent.
The company will eliminate overlap between Sal. Oppenheim and Deutsche Bank over the next 15 months which will affect a “significant” number of jobs, the Cologne, Germany-based division said today in an e-mailed statement. Deutsche Bank will seek to avoid forced firings, it said.