Bengaluru hit by Deutsche Bank layoffs

An unknown number of employees from the MNC’s Bengaluru operations have received pink slips.Updated: Jul 10, 2019, 02.37 PM ISTReutersGerman banker Deutsche goes ahead with the restructuring of its services in the Asia Pacific regionBENGALURU: Deutsche Bank’s move to lay off employees across its global operations has seen an impact closer home. An unknown number…

Bengaluru hit by Deutsche Bank layoffs

An unknown number of employees from the MNC’s Bengaluru operations have received pink slips.Updated: Jul 10, 2019, 02.37 PM ISTReutersGerman banker Deutsche goes ahead with the restructuring of its services in the Asia Pacific regionBENGALURU: Deutsche Bank’s move to lay off employees across its global operations has seen an impact closer home. An unknown number of employees from its Bengaluru operations are known to have received pink slips on Monday.
The German multinational investment bank and financial services company plans to shut its equity trading businesses in the Asia-Pacific region, and, according to wire sources, will be laying off about 18,000 employees across the world. Most of the people who received pink slips, in Bengaluru, are believed to be backend employees in the equity trading and investment banking divisions.
Deutsche Bank did not divulge details on the number of employees laid off, or whether operations had been affected post the layoffs.
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