XML 73 R20.htm IDEA: XBRL DOCUMENT v3.22.4
Restructuring
 12 Months Ended
Dec. 31, 2022
Restructuring [Abstract]  
Disclosure of Restructuring [text block]
10 –
Restructuring
Restructuring is primarily driven by the implementation of the Group’s strategic changes as announced in the third quarter 2019. The Group has defined and implemented measures that aimed to strengthen the bank, position it for growth and simplify its organizational set-up. The measures also aimed to reduce adjusted costs through higher efficiency, by optimizing and streamlining processes, and by exploiting synergies.
Restructuring expense is comprised of termination benefits, additional expenses covering the acceleration of deferred compensation awards not yet amortized due to the discontinuation of employment and contract termination costs related to real estate.
In 2022, the Group reached a significant milestone in the strategic transformation announced in July 2019, many of the restructuring programs were concluded and the underlying assumptions for the remaining restructuring provisions were reviewed resulting in a partial release of provisions. Overall in 2022, the Group recognized a credit of € 118 million in the Consolidated Statement of Income.
Net restructuring expense by division
in € m.
2022
2021
2020
Corporate Bank
(19)
42
28
Investment Bank
15
47
14
Private Bank
(113)
173
413
Asset Management
0
2
22
Capital Release Unit
(2)
(2)
5
Corporate & Other
0
(0)
3
Total Net Restructuring Charges
(118)
261
485
Net restructuring by type
in € m.
2022
2021
2020
Restructuring – Staff related
(117)
241
479
thereof:
Termination Benefits
(132)
224
441
Retention Acceleration
15
16
36
Social Security
0
1
1
Restructuring – Non Staff related
(1)
21
6
Total Net Restructuring Charges
(118)
261
485
Provisions for restructuring amounted to € 248 million, € 582 million and € 676 million as of December 31, 2022, December 31, 2021 and December 31, 2020, respectively. The majority of the current provisions for restructuring are expected to be utilized in the next year.
During 2022, 903  full-time equivalent staff was reduced through restructuring (2021: 1,362 and 2020: 1,447).
Organizational changes
Full-time equivalent staff
2022
2021
2020
Corporate Bank
113
228
303
Investment Bank
54
149
100
Private Bank
594
776
630
Asset Management
1
10
48
Capital Release Unit
0
13
69
Infrastructure
141
186
297
Total full-time equivalent staff
903
1,362
1,447