Deutsche Bank is converting and is also selling an I.T subsidiary, which was part of the Postbank. The buyer is an Indian software service provider. The employees should keep their jobs.
Deutsche Bank sells its IT daughter Postbank Systems to the Indian software service provider Tata Consultancy Services (TCS). The Bonn-based company, which was previously responsible for the computer systems of the Group’s subsidiary Postbank, is moving together with its 1,500 employees under the TCS umbrella, Deutsche Bank announced in Frankfurt on Monday. The sale creates clarity for the employees and strengthens the existing cooperation between Deutsche Bank and TCS.
The separation is part of the radical group restructuring that Deutsche Bank ordered in mid-2019. The Frankfurt parent company also runs its IT infrastructure with that of Postbank, so that Postbank Systems’ tasks are shrinking. A total of around 18,000 jobs at Deutsche Bank are to be cut in the course of the renovation.
By selling Postbank Systems, the Frankfurt-based Dax group saves possible severance payments for the employees concerned. In return, the employees keep their jobs. According to the information, the deal at Deutsche Bank has a negative impact of around 120 million euros.