Monday , October 3 2022

Shocking bankers were sent home after they announced the removal of 18,000 jobs


The restructuring plan is expected to cost 7.4 billion euros. The Bank wants to cut operating costs by 6 billion euros. Photo: Reuters

Some employees in London, New York and Tokyo were surprised by the management's response because after announcing Saturday's dismissal, they were informed that their workbook was operational by 11 o'clock. Details are not known. Deutsche The Bank is one of the largest employers in London town, as it employs up to 8,000 people. By 2022, this banking giant will have "74,000 employees" in the world, and the restructuring will cost the bank 7.5 billion euros.

The restructuring plan was adopted by the Bank's Supervisory Board on Sunday. Chief Executive Officer Christian sewing after the meeting of supervisors confirmed that they have confirmed the deepest transformation of the bank for decades.

The bank has decided to restructure as it wants to reduce operating costs by 6 billion euros. In April, merger negotiations with the bank failed Commerzbank,

Scandals, investigations and penalties

Deutsche The bank, which has once tried to compete with the American giant Wall Street, is now in the midst of scandals, investigations and sanctions, and has left very bad investments since the financial crisis that was in the past. years it has made great losses and only last year made a profit. However, it is forecast that at the end of the month it will again have a loss of 2.8 billion euros in the second quarter of this year.

The German bank was the only large bank that wanted to lend to US President Donald Trump when it was due to his debts and losses in the 1990s. years In the last century, the big American banks "discovered".

American Democrats demand investigation of Trump deals

Congressional Democrats are conducting investigations on this issue and are among them Deutsche The bank asked for financial information about Trump, his family and his company. The bank agreed to submit the information, even though Trump tried to block it in court. The federal court rejected his request but intends to appeal to the US Supreme Court.

In January, the bank reached an agreement with the US Department of Justice to pay $ 7.2 billion to penalize investors in mortgage-backed securities trading before the 2008 crisis. A fine of $ 630 million to launder Russian money. Deutsche banks also had to pay US and British regulators $ 2.5 billion to manipulate interest rates.

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