Dresdner Kleinwort Wasserstein (DrKW)

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
450 jobs
Number of planned job losses
Job loss
Announcement Date
26 February 2008
Employment effect (start)
1 January 2008
Foreseen end date

Description

Dresdner Bank AG, a subsidiary of German insurer Allianz, announced the loss of 450 jobs at its investment banking unit Dresdner Kleinwort Wasserstein (DrKW). The decision is attributed to the crisis in investments affecting Dresdner Kleinwort and the decrease in sales. As of March 2008, there is no information on the number employed and when the job cuts will be implemented by.

Sources

  • 26 March 2008: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2008), Dresdner Kleinwort Wasserstein (DrKW), Internal restructuring in Germany, factsheet number 66363, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66363.