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Layoffs Watch ’14: Deutsche Bank

Zee Germans are mulling over cutting their own, at all levels.

Deutsche Bank, Germany’s biggest bank, plans to cut more jobs at its investment bank to lower costs as business stagnates, two people with knowledge of the plan said. The bank is weighing the reductions, which come in addition to the 2,000 announced in 2012, over the coming months across its corporate finance, capital markets and trading businesses, said the people, who asked not to be identified because the details aren’t public. Managing directors are included in the plan, they said. The cuts are a result, in part, of the bank’s decision to increase base pay for senior bankers, boosting fixed costs, two people said. While no decision has been made on the total number of job losses they will probably total about 500, another person said.

Deutsche Bank Said to Plan Job Cuts at Investment Bank [Bloomberg]

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2 Responses to “Layoffs Watch ’14: Deutsche Bank”

  1. guest says:

    mmm…cupcakes…

    -nervous but also hungry jew

  2. Patton says:

    Back your winners, cut your losers