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Unread 08-07-2019, 09:06 AM
Albert Tatlock
 
Default Deutsche Bank sacking 18,000 staff

It looks quite brutal, 18,000 people worldwide. They want to restructure the organisation, more corporate banking, less investment banking.

All their equities trading across Asia is being cut.

https://www.theguardian.com/business...-business-live

Quote:
In a letter to DB staff, Christian Sewing explains why 18,000 jobs are being cut:

First let me say this: I am very much aware that in rebuilding our bank, we are making deep cuts.

I personally greatly regret the impact this will have on some of you. In the long-term interests of our bank, however, we have no choice other than to approach this transformation decisively.

He also outlined how he plans to take DB “back to its roots”, cutting fixed costs and refocusing on corporate banking not investment banking.

Sewing says:

Going forward, we will have four businesses that will be entirely focused on our clients.
We are focusing our Investment Bank, we will be less dependent on Sales & Trading and are shrinking our balance sheet.
We are creating a Corporate Bank which will be at the centre of our bank.
We aim to reduce our adjusted costs by over a quarter and to simultaneously invest 13 billion euros in technology by 2022.
And we are not asking our shareholders to pay for this transformation but instead plan to return capital to them.
All of this will create a new, better Deutsche Bank.
 
Unread 08-07-2019, 09:17 AM
flixton
 
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Poor bankers
 
Unread 08-07-2019, 09:22 AM
armchair
 
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Surely there should've been a million articles warning us about this happening.
 
Unread 08-07-2019, 09:25 AM
Hema
 
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Quote:
Originally Posted by flixton
Poor bankers
It will be the lowest paid front of house, admin and clerical staff going.
 
Unread 08-07-2019, 09:34 AM
Lazlo Panaflex
 
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I wonder how big the 2020 recession will be.
 
Unread 08-07-2019, 09:36 AM
waynes ear's
 
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I wonder if Lawless has combusted yet
 
Unread 08-07-2019, 10:26 AM
puressence
 
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wunderbar
 
Unread 08-07-2019, 10:41 AM
Gypsum Fantastic
 
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looks like denis was right all along
 
Unread 08-07-2019, 10:52 AM
Lazlo Panaflex
 
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Quote:
Originally Posted by Gypsum Fantastic
looks like denis was right all along
We've already been over this. It was EU gone by 2020. And iirc you still owe an apology.
 
Unread 08-07-2019, 11:02 AM
Drexl
 
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Serves them right for breaking Adam's heart imo:

 
Unread 08-07-2019, 11:41 AM
jem
 
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Quote:
Originally Posted by armchair
Surely there should've been a million articles warning us about this happening.
db nearly went under a few years ago. it has struggled for a while with reorganisation.

obvs, if there were any way to blame this on brexit.....
 
Unread 08-07-2019, 12:36 PM
Albert Tatlock
 
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Quote:
Originally Posted by jem
db nearly went under a few years ago. it has struggled for a while with reorganisation.

obvs, if there were any way to blame this on brexit.....
not this time though
 
Unread 08-07-2019, 03:33 PM
Gypsum Fantastic
 
Default

Quote:
Originally Posted by Lazlo Panaflex
We've already been over this. It was EU gone by 2020. And iirc you still owe an apology.
me? I highly doubt it.

denis was saying db was creaking years ago and you just laughed at his plastic bags. boot's on the other foot now my friend. right up your corporate jacksy,

i'd say it's you that should be sorry.
 
Unread 08-07-2019, 04:06 PM
Lazlo Panaflex
 
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Poor old gypsum and his make believe history.
 
Unread 08-07-2019, 04:20 PM
tatty
 
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A shame to see the effects of a moribund German economy on their biggest national bank.
 
Unread 08-07-2019, 04:23 PM
red red robbo
 
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Quote:
Originally Posted by Hema
It will be the lowest paid front of house, admin and clerical staff going.
I'm not sure how many front of house staff you have in investment banking
 
Unread 08-07-2019, 04:25 PM
waynes ear's
 
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Quote:
Originally Posted by red red robbo
I'm not sure how many front of house staff you have in investment banking
what a f***ing retard
 
Unread 08-07-2019, 04:44 PM
armchair
 
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Quote:
Originally Posted by waynes ear's
what a f***ing retard
that's detective retard to you, mister.
 
Unread 08-07-2019, 04:51 PM
My Name is Heath
 
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didn't see much sympathy when oil and gas workers were binned in 2014 etc.

Oh wait, they're media unfriendly Northeners/Scots.

The top bankers will survive and theor rapacious ways will remain.
 
Unread 08-07-2019, 04:52 PM
waynes ear's
 
Default

Quote:
Originally Posted by armchair
that's detective retard to you, mister.
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