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Thousands Of Bankers Sent Home As Deutsche Bank Blames 'Industry Challenges' For Layoffs

WorldNews Tuesday, 9 July 2019 ()
Thousands Of Bankers Sent Home As Deutsche Bank Blames 'Industry Challenges' For LayoffsDeutsche 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...
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News video: Deutsche Bank to Layoff Nearly 20,000 Employees

Deutsche Bank to Layoff Nearly 20,000 Employees 01:07

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...

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