Thursday , July 7 2022

Surprised bankers have been sent home after announcing the abolition of 18,000 jobs



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The restructuring plan is expected to cost 7.4 million euros. The bank wants to reduce operating costs by 6,000 million euros. Photo: Reuters

Some London, New York and Tokyo employees were amazed at the management's response, as after the announcement of Saturday's dismissal it was reported that their workbook was in operation at 11.00. No details are known. Deutsche The bank is one of London's largest employers City, since it employs 8,000 people. This banking giant will have 74,000 employees in the world in 2022 and the restructuring will cost the bank 7.5 trillion euros.

The restructuring plan was adopted on Sunday by the Bank's Supervisory Board. Christian Executive Executive Seam after the meeting of supervisors, confirmed that they had confirmed the deepest transformation of the bank in decades.

The bank has decided to restructure, as it wants to reduce operating costs by 6,000 million euros. In April, the negotiations on the merger with the bank failed Commerzbank.

Scandals, investigations and sanctions

Deutsche The Bank, which once tried to compete with the American giant Wall Street, is now in the midst of scandals, investigations and sanctions and has left many bad investments from the moment of the financial crisis, which in the past years It generated high losses and only last year profits were obtained. But it is expected that, at the end of the month, it would have a new loss of 2,800 million euros in the second quarter of this year.

The German bank was the only large bank willing to grant loans to US President Donald Trump due to its debts and losses during the 1990s. years In the last century, the big American banks "discovered."

The American democrats demand investigations about the trump agreements

The Democrats of Congress are doing research on this and they are from Deutsche Bank demanded financial information about Trump, his family and his company. The bank agreed to hand over the information, although Trump tried to block it in court. The federal court rejected his request, but intends to appeal to the Supreme Court of the United States.

In January, the bank reached an agreement with the US Department of Justice to pay 7,200 million dollars in sanctions for deceived investors in trading securities based on mortgages prior to the crisis in 2008. It followed a fine of 630 million euros Dollars to rent money in Russia. Deutsche Banks also had to pay US $ 2.5 billion dollars to US-British regulators for interest-rate manipulations.

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