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Deutsche Bank follows PayPal in pull back from North Carolina

12 April 2016  |  5049 views  |  2 Deutsche bank Head office Flag banner 1

Deutsche Bank is freezing plans to create 250 new jobs at its Cary, North Carolina, location in protest at new state-wide legislation that discriminates against members of the lesbian, gay, bisexual and transgender community.

The Bank’s decision follows moves by PayPal earlier this month to reverse a decision on the location of a new global operations centre in Charlotte that would have created 400 new jobs.

John Cryan, co-chief executive officer of Deutsche Bank, says: “We take our commitment to building inclusive work environments seriously. We’re proud of our operations and employees in Cary and regret that as a result of this legislation we are unwilling to include North Carolina in our US expansion plans for now. We very much hope that we can re-visit our plans to grow this location in the near future.”

Deutsche Bank currently employs approximately 900 people at its software application development center in Cary and had said in September last year that it planned to add 250 jobs via a $9 million investment through 2017.

Comments: (2)

A Finextra member
A Finextra member | 12 April, 2016, 16:42

I am proud of companies like PayPal and Deutsche Bank. It is unfortunate that North Carolina believes in such hateful values.

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Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 12 April, 2016, 17:00

Quoting without comment:

@GSElevator: Hey @PayPal, nice move canceling 400 NC jobs over transgender bathrooms. BTW, your Asia HQ is in Singapore, where gay sex = 2 years in jail. https://twitter.com/GSElevator/status/717503456567623681

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