Here are some things that have happened to/at Deutsche Bank over the last number of months:
- It failed its stress test
- UK regulators ballparked the number of DB employees involved in LIBOR rigging at twenty-nine (29!)
- The whole Brexit thing, which resulted in a memo by CEO John Cryan that began, "I'm afraid"
- The nixing of chauffeured Mercedes S-class sedans for executives
- A letter from the FCA taking the bank to task for "serious lapses in efforts to thwart money laundering"
- Terrible, no good, very bad bonuses
- A weird little moment in which Cryan publicly fantasized about running Wells Fargo instead of DB
- Layoffs, lots of layoffs
So it reeeeallly didn't need to head into the weekend with this sad little revelation.
Deutsche Bank AG said a survey of staff found fewer of the German bank’s employees feel committed to the lender than they were a year earlier, with less than half saying they are proud to work at the firm. “The results paint a sobering picture of the mood inside our bank,” Chief Executive Officer John Cryan and Karl von Rohr, chief administrative officer, said in a memo to staff posted to the company’s website Friday. “The ongoing transformation of our businesses, and the resulting job cuts, are causing a lot of concern and uncertainty.”