Deutsche Bank sells IT unit for symbolic €1 in job-cutting drive
Indian multinational Tata Consultancy Services will take on 1,500 Postbank Systems workers in Germany
09 November 2020 - 17:06
Frankfurt/Bengaluru — Deutsche Bank has agreed to sell a technology services unit to Tata Consultancy Services (TCS), helping the bank move closer to CEO Christian Sewing’s ambitious job-cutting target.
The two companies aim to finalise the sale of Postbank Systems by the end of the year, according to a statement from Deutsche Bank on Monday that confirmed a Bloomberg News report last month. The bank will take a hit of about €120m, it said...
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