1. Home
  2. / Economy
  3. / Mass layoffs announced by Deutsche Bank worry job market
AISP-GEDOC SP reading time 3 min read

Mass layoffs announced by Deutsche Bank worry job market

Written by Bruno Teles
Published 01/05/2023 às 13:44
mass dismissal
Photo: Deutsche Bank

In recent years, many companies have faced financial difficulties due to the challenging economic scenario, and unfortunately, this has often led to drastic decisions.

Recently, one of the best known banks in the world, the Deutsche Bank, announced that it will hold a mass layoffs of 800 employees, which has caused great commotion and concern in relation to the labor market.

According to disclosed information, the decision taken by the bank resulted in a 5% cut in an important department, which corresponds to 800 workers. The main objective, according to the institution, is to increase its efficiency. A mass dismissal will affect employees in senior roles who are not focused on direct customer service.

O Deutsche Bank is a financial institution founded in Germany in 1870

The Bank has its headquarters in Frankfurt on Main and maintains branches in various parts of the world, such as Hong Kong, London, New York, Singapore and Sydney. In Brazil, the financial institution has a well-known branch on Avenida Brigadeiro Faria Lima, in São Paulo.

The announcement of the mass dismissal was made last Thursday (27) and the institution informed that this update in the staff will take place at the beginning of the second half of this year. In addition, the Bank will also place a limit on hiring for non-customer-facing roles and intends to reorganize its board of directors and reduce the number of positions in the sector from ten to nine.

The news of the mass layoffs at Deutsche Bank took many people by surprise and generated a huge backlash.

After all, we are talking about a large financial institution and the measure will affect not only the employees who will be fired, but also their families and all those who depend on these jobs.

Given this, it is important to remember that mass layoffs are not an uncommon measure in times of crisis. Unfortunately, many companies have to make difficult decisions to ensure their financial survival, and this can include downsizing.

However, it is essential that companies seek alternatives to overcome difficulties without harming their employees. In addition, it is necessary for the public authorities to be aware and take measures to protect workers in situations like these.

The mass layoffs at Deutsche Bank serve as a warning for companies to rethink their strategies and seek financial efficiency without forgetting the importance of human resources. It is necessary to guarantee the appreciation of workers and the guarantee of their rights.

In Brazil, mass dismissals have caused great concern, especially for those who already face difficulties in finding a job.

It's important to remember that, right now, with the economy down, competition in the job market is fierce and opportunities are scarce.

Therefore, it is essential that workers seek ways to keep themselves updated, qualified and prepared to face the labor market challenges. In addition, companies need to be aware of their social responsibility and follow labor laws, protecting their employees and avoiding situations such as mass layoffs.

The moment demands care and attention from everyone, so that we can overcome difficulties and build a more prosperous future for the job market and the economy in general.

Be the first to react!
React to article
Bruno Teles

I talk about technology, innovation, oil and gas. I update daily about opportunities in the Brazilian market. With more than 3.000 articles published in CPG. Agenda suggestion? Send it to brunotelesredator@gmail.com

Share across apps