Bonus Watch '16: Deutsche Bank Employees Bracing For Historically Bad Bonuses

You've been warned.
Author:
Updated:
Original:

How do you say "there will be tears" in German?

Deutsche Bank is sharply cutting 2015 bonuses as it expects a record loss for the year due to writedowns, litigation charges, restructuring costs and tough trading conditions, three people familiar with the matter said. While employees of Germany's largest lender will only be notified about their individual bonuses in March, they have already been told that payout pots for individual divisions will shrink by at least 25 to 30 percent, they added. "For staff, 2015 will be very likely one of the worst years ever," a Deutsche Bank manager, who declined to be named, said. Another person familiar with the matter said all employees paid above union-negotiated collective wage agreements, such as investment bankers, would be affected.

Deutsche Bank to cut 2015 bonuses after record loss-sources [Reuters]

Related

Bonus Watch '16: Deutsche Bank Employees Might Just Wanna Forget About Bonuses This Year

Or at least keep those expectations somewhere between low and very low.

Bonus Watch '16: The 10 Most Senior People At Deutsche Bank Will Share A Bonus Pool Of Zilch/Zip/Nada

As for the rest of the staff? Expect something just a smidge above zilch/zip/nada.

(Getty Images)

What Sort Of Non-Cash Bonuses Should Deutsche Bank Pay Its Employees This Year?

Money is tight, so the bank's gotta think outside the box.

Bonus Watch '16: No One Is In This Business For The Money, Right?

Otherwise next week's bonus conversations could get awkward.