Thousands Of Bankers Sent Home As Deutsche Bank Blames 'Industry Challenges' For Layoffs
Tuesday, 9 July 2019 () Deutsche Bank announced 18,000 job cuts on Sunday as part of a radical shift which would affect staff in London, New York, and Tokyo, according to CCN Markets. A Deutsche Bank spokesperson said the personnel changes were made to shrink its investment banking business and make the bank "leaner and stronger." Deutsche Bank has not specified the details of the job cuts yet, but it will likely cut activities related to trading shares, which predominantly occur in London and New York. Deutsche Bank's equities business in Asia is managed out of Hong Kong, but a spokesperson declined to comment on the impact the bank reorganization would have on job numbers in Asia to BBC News. Many noted how the...
Deutsche Bank to Layoff Nearly 20,000 Employees According to CNN, the downsizing is apart of a big overhaul for the investment bank. CEO Christian Sewing confirmed the restructuring plan in a memo to workers. I am very much aware that in rebuilding our bank, we are making deep cuts. I personally...
The mission of the Milwaukee Homeless Veteran Initiative (MHVI) is to help homeless and at-risk veterans reach and maintain their highest levels of independence. They have designed six programs to help..
All (investor) eyes have been on bank stocks this week, as most reported earnings with better-than-expected second-quarter results this week. According to Jim Cramer, our fearless leader at TheStreet,..
Chief Executive Christian Sewing personally called Deutsche Bank staff members to admonish them for having suit fittings at its London office on the same day... Reuters India Also reported by •MoneyWeek •Reuters •Deutsche Welle
The days when Deutsche Bank officials played big to win big are over. The lender's new credo is "back to the roots." The plan to overhaul Deutsche Bank is... Deutsche Welle Also reported by •MoneyWeek •Reuters