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BREAKING NEWS - Europe

Deutsche Bank staff sent home as 18,000 job cuts begin  

Deutsche Bank staff in London are learning how restructuring plan will affect them - some staff in Asia have already been sent home. Deutsche Bank’s restructuring plan is the latest twist in its “desperate struggle for survival”, say the analyst team at foreign exchange platform FxPro.

But although its shares have recovered from a record low below €6 last month to around €7.40 this morning, the future looks challenging. By tempering ambitions and reducing staff – including the exit from the U.S. market – Deutsche Bank abandons the ambitions of further development. Looking ahead, it calls into question its ability to gain a foothold above the level of €20 per share, not to mention the historical highs near €95.” My colleague Julia Kollewe is stationed outside Deutche Bank’s offices in London.

There are several taxis waiting outside 1 Great Winchester Street office, perhaps for those who have been told to clear their desks this morning. One banker who was carrying a laptop bag declined to comment as he got into a pre-booked black cab. You can read more HERE.

Deutsche Bank staff in London are learning how restructuring plan will affect them - some staff in Asia have already been sent home. Deutsche Bank’s restructuring plan is the latest twist in its “desperate struggle for survival”, say the analyst team at foreign exchange platform FxPro.

But although its shares have recovered from a record low below €6 last month to around €7.40 this morning, the future looks challenging. By tempering ambitions and reducing staff – including the exit from the U.S. market – Deutsche Bank abandons the ambitions of further development. Looking ahead, it calls into question its ability to gain a foothold above the level of €20 per share, not to mention the historical highs near €95.” My colleague Julia Kollewe is stationed outside Deutche Bank’s offices in London.

There are several taxis waiting outside 1 Great Winchester Street office, perhaps for those who have been told to clear their desks this morning. One banker who was carrying a laptop bag declined to comment as he got into a pre-booked black cab. You can read more HERE.

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Published on 08/07/2019 @ 11:51 AM   | All Breaking News Topics | Top
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