INTERNATIONAL: German banks merger sparks fears of PR job cuts

FRANKFURT: The merger of Deutsche Bank and Dresdner Kleinwort Benson will join the communications departments together, leading to concern over job cuts among the staff of both firms.

FRANKFURT: The merger of Deutsche Bank and Dresdner Kleinwort

Benson will join the communications departments together, leading to

concern over job cuts among the staff of both firms.



The merger, creating a business worth an estimated pounds 750 billion,

was announced last week. It is likely to lead to over 2,000 job cuts in

the UK and a higher total worldwide. The Dresdner name is likely to

disappear altogether, with the bank’s CEO Bernhard Walter predicted to

stand down after the merger is completed.



A working group has been convened under Johannes Friedemann, head of

internal communications at Dresdner and Siegfried Guterman of Deutsche

Bank. The group will discuss measures to be taken internally to

accompany the merger process.



At Deutsche Bank, staff were told of the merger press conference by

e-mail on Tuesday. Early on Thursday, they received a message from CEO

Rolf-Ernst Breuer, in which he explained the background to the merger,

before briefing 300 top executives. He then made a statement on the

company’s internal TV channel.



Edited by Gidon Freeman.



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