BREAKING | Deutsche Bank employees turned away from work

Deutsche Bank employees turned away from work

Deutsche Bank employees in London have been told to clear their desks immediately, before having their security passes deactivated, according to correspondence from The Telegraph’s Lucy Burton.

The move comes after yesterday’s announcement of a huge restructure which will see 18,000 job cuts as part of a radical reorganisation – The BBC reports. CNBC reported that the bank is set to pull out of global equities sales, trading and scale back investment banking – as well as slash thousands of jobs – to improve profitability.

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Comments (1)

  • Charlie
    Mon, 8 Jul 2019 2:08pm BST
    I am very saddened to read the statement 'While job cuts may be part and parcel of cutting costs, think carefully about the staff that you want to keep. Forget about past success, select those with a forward-thinking focus and who will bring skills to the table that are needed for the future of the business.'

    Forget about past success? So those that have shown commitment, loyalty and kept the bank afloat during what is deemed a decade of 'limping along'?

    Yes, understandably you want to move forward with your strongest team but to say 'forget about the past successes' … this is where a whole heap of problems are caused. You get rid of experienced talent that may be not quite up to speed due to the reputation of the bank and nothing to do with their own individual talents.

    Such shortsightedness makes be sad and if I am totally honest, a bit angry.

    Look at the top first - move some of the fat cats out and the ranks below will be able to fulfil their roles effectively and efficiently and give your clients and customers the much needed stability whilst you go through the changes at the top.

    Your customers & clients build relationships with the work force, not the directors and people buy from people - FACT!

    Such total ignorance to make such a statement!