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.