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.
Read More : Deutsche Bank’s Postbank Under Pressure as Employees Seek 15.5% Pay Hike