Finance
Deutsche Bank’s Postbank Faces Demand for 15.5% Pay Increase
- Demand applies to lender´s retail business arm Postbank
- Prior wage talks didn’t reflect high inflation, union says
The demand by German labor union Verdi would affect around 12,000 employees.
Photographer: Kirill Kudryavtsev/AFP/Getty ImagesThis article is for subscribers only.
Deutsche Bank AG is facing a demand for a 15.5% pay increase at its Postbank retail business, adding to cost pressures for Chief Executive Officer Christian Sewing as he seeks to make good on a pledge to raise profitability.
The demand by German labor union Verdi would affect around 12,000 employees, the Verdi labor union said in a statement Thursday.