Protection against dismissal also affects many Deutschbankers

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Employees of Deutsche Bank

Bankers of Deutsche Bank also benefit from the new protection against dismissal.


(Photo: Reuters)

Frankfurt Ostensibly, collective bargaining at Postbank involved higher salaries. But when it came to an end last Thursday after four tough rounds of negotiations, the unions and the Postbank mother agreed German bank nor to the extension of an employment protection agreement, which also benefits many employees of Deutsche Bank.

"With the agreement, the existing rules for protection against dismissal will be extended by two years until June 2023," said Jan Duscheck of the union Verdi, the Handelsblatt. "Protection against dismissal covers not only the entire private and corporate bank of Deutsche Bank, but also all of its subsidiaries and grandchildren, as well as service units that serve the private customer sector," added Mr. Duscheck.

"The dismissal protection also applies to the majority of employees in the domestic corporate customer business, which actually have contracts of Deutsche Bank AG," said Stephan Szukalski, the federal chairman of the union DBV. In his opinion, that would affect 4,000 to 6,000 employees in the area. "Thus, the workforce in the domestic corporate customer business is very largely secured," says Szukalski.

Organizational changes, such as the shift of corporate banking into the Entrepreneurial Bank division or a possible merger of DB Privat- und Firmenbank with Deutsche Bank AG, can not undermine the protection against dismissal. "Even later organizational changes do not change the protection against dismissal that the employees affected by the scheme enjoy," said Mr. Duscheck.

Although this agreement does not make a comprehensive job reduction impossible – Deutsche Bank has always relied on socially acceptable dismantling programs for years – it does strengthen the position of employees and employee representatives in negotiations on this.

In another point, the collective agreement but also clears some tariff hurdles in the event of a merger, as DBV boss Szukalski stressed. "Normally, a merger of the most favorable collective agreement for employees would apply to all employees of the new unit. That would have been very costly for Deutsche Bank, "he says. This rule was suspended until 2025.

More: The Postbank headquarters is to move according to the original plans in 2021 within Bonn. But for reasons of cost, the move will be reconsidered.

Postbank (t) Tariff (t) Collective agreements (t) Collective bargaining (t) Verdi (t) Warning strikes (t) Collective bargaining policy (t) Labor market (t) Employment law (t) Job losses (t) Participation (t) Deutsche Bank (t) Deutsche Postbank (t) Stephan Szukalski (t) Jan Duscheck (t) Banks & Credit Institutions

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