• Germany edition
 
Hundreds of great job opportunities for foreign professionals at Germany's top employers - in cooperation with Monster, Experteer, Stepstone, and CareerBuilder.
What
Where
3,429
jobs available
Find English-speaking professionals with The Local.
Advertise a vacancy
Study: banks expect bad luck in 2013
Photo: DPA

Study: banks expect bad luck in 2013

Published: 21 Jan 2013 15:43 CET

Fourty two percent of German banks are planning or intending to cut staff - especially in administration departments - said the study from ratings agency Ernst & Young presented on Monday in Frankfurt am Main.

Coming just days after rumors abounded in the German press that Commerzbank was planning to cut up to 6,500 jobs - 18 percent of its workforce.

Just 18 percent of German banks, by contrast, said they wanted to employ more people.

"There are some lean years up ahead for banks," said Claus-Peter Wagner of Ernst & Young on Monday. "That's why the coming months will be marked by reconstructions, cost reductions and risk minimizing."

Half of banks said that they expected the German domestic market to shrink in the coming months. One quarter said they expected their own firm's situation to improve over the next year, with the majority - 40 percent - fearing it would get worse.

The continuing sovereign debt crisis in Europe and the increasing costs of growing regulation were further grounds for pessimism in 2013. Investment banking and related areas - bond or share issuing - would shrink further this year, predicted many banks.

Meanwhile, classic banking services with private individuals and business customers is said to be backing a comeback in the crisis.

Fifty German banks took part in the survey, which tested the waters with 269 banks across Western Europe and Scandinavia.

Europe-wide, the banks' prognoses for 2013 looked even bleaker - 45 percent of banks said they wanted to cut jobs and just 21 percent said they intended to extend their workforces.

DAPD/The Local/jlb

The Local (news@thelocal.de)


Don't miss...X
Left Right

Your comments about this article:

The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.

ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Your German Career
What do German bosses need to do to get more out of their staff? Frankfurt-based business consultant Justin Bariso has this advice.
Germany's Federal Employment Agency has identified the job sectors the country is most short of workers for. JobTalk looks at where the vacancies lie.
Students at German universities have shown themselves to be a risk-free lot in a survey by Ernst & Young. The civil service is their most popular choice of future profession, while job security is valued above all else.
Jenny Core, originally from Bolton, England, shares her tips in this week’s My German Career on being an artist in Berlin. The 27-year-old exhibits her work regularly in the city, including next to a Turner Prize shortlister.
In this week's JobTalk, Tanya Schober, who is originally from India, talks us through her journey to German citizenship.
In this week's My German Career, Anupama Gopalakrishna, who is originally from Bangalore in India, tells The Local about her new life in Frankfurt.
German Employment News
What do German bosses need to do to get more out of their staff? Frankfurt-based business consultant Justin Bariso has this advice.
Germany’s Labour Minister Andrea Nahles has given her backing to an anti-stress law, announcing a study into workers' mental health on Tuesday.
Germans could foot the bill for unemployment benefits in other European countries under an EU plan to tax the union's richest states.
What do Germans do in their spare time? More and more of them are working a second job, according to one study. Is work no longer paying enough and can your boss stop you taking a second job?
More young people are choosing university degrees over vocational training, leaving firms scrambling to find qualified new hires.
Despite the ease of work visa regulations for non-EU citizens with certain job qualifications, few potential immigrants are taking advantage.

Assistant for distribution process management
You will be working in conjunction with our wholesale retailer partners and will be responsible for managing and distribution process of various consumer products. As an effective assistant for distribution process management you will organize product delivery to domestic and international customers, ensure that our clients will receive excellent service experience that we are known for.
FULL JOB AD »

IT Officer (Hardware/Networking)
VFS TasHeel, leaders in Visa Processing and Delivery, is looking for an IT Officer (Frankfurt Office) who will be primary responsible for User Level Support of all VFST/VASCO systems
FULL JOB AD »

StepStone Deutschland GmbH
Düsseldorf
Stepstone
Added 09/02/14

StepStone Deutschland GmbH
Brüssel, Berlin, Düsseldorf, Warschau
Stepstone
Added 09/02/14

Celesio AG
Stuttgart
Stepstone
Added 09/02/14

Celesio AG
Stuttgart
Stepstone
Added 09/02/14

Celesio AG
Stuttgart
Stepstone
Added 09/02/14

Deutsche Telekom AG
Frankfurt am Main
Stepstone
Added 09/02/14

E.ON Business Services Berlin GmbH
Würzburg
Stepstone
Added 09/02/14

E.ON Business Services Berlin GmbH
Würzburg
Stepstone
Added 09/02/14

E.ON Business Services Berlin GmbH
Düsseldorf
Stepstone
Added 09/02/14

Celesio AG
Stuttgart
Stepstone
Added 09/02/14