Deutsche Bank Faces Boycott Call Over Job Cuts

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00006219-deutsche-bank-faces-boycott-call-over-job/

Leading members of Germany’s ruling Social Democrats and Greens have rounded on Deutsche Bank over its planned jobs cut, one even calling for Germans to boycott the country’s largest bank.

Deutsche Bank has enraged centre-left politicians with its plans to axe almost 2,000 staff in Germany, while making a 2.55 billion euro ($3.26 billion) profit in 2004, an 87 percent increase on the previous year.

But the bank, which plans to shed 6,400 jobs worldwide in a bid to boost earnings by over 20 percent in 2005, drew backing on Wednesday from Bundesbank board member Edgar Meister, who called for a quick end to the controversy.

For this complete story, please visit Deutsche Bank Faces Boycott Call Over Job Cuts.

Deutsche Bank Faces Boycott Call Over Job Cuts

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