Just when we think things at Deutsche couldn't get more cartoonishly awful, we get a tip like this from inside the bowels of the bank itself...
Staff were greeted by a number security guards at the entrance to the equity trading floor this morning. People are expecting a bloodbath today. Word is that they had to move the fixed income layoffs to another day because there aren't enough equity HR people to handle the amount of people being let go today in equities.
We can also report that the layoffs in equities are almost done. It's looking to be about 20% and as our source says "It was bad." And apparently about to get worse as John Cryan and hist team shift attention to fixed income in the coming days.
Best of luck to all of those affected.