Any one can confirm, Deutsche Bank in trouble, 6000 people to be retrenched.
#1
True or not?

If true, it can mean big crisis coming very soon!!!! Is Deutsche Bank the Lehman Bro of 2018?

duntell
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#2
https://sg.finance.yahoo.com/news/deutsc...02279.html

Deutsche Bank to Layoff 6,000 Jobs at Retail Unit by 2022
Zacks
Zacks Equity Research
Zacks12 March 2018

German banking giant Deutsche Bank AG DB is aimed at nearly 6,000 layoffs at the bank’s newly formed unit, by the end of 2022. This is likely part of the planned integration of the bank’s retail unit — Postbank — Bloomberg reported.

Per the source, negotiations with the bank’s labor representatives will decide the final count of layoffs. Further, more than 1,000 job cuts will take place annually through a voluntary program and normal retrenchment.

Background

Earlier in October 2017, Deutsche Bank and Postbank announced the realignment of their business with private and commercial clients, in which more than 20 million clients and €325 billion in client business volume will create a single entity. By the end of second-quarter 2018, a single legal entity will be formed after the completion of the merger, but two different brands will be maintained.

Post integration, considerable synergies will be reaped, including €900 million annually, by 2022. Notably, €1.9 billion will be spent in restructuring expenses and other investments, mainly in technology. Additionally, the cost-income ratio for this business is anticipated to be lowered to below 65% by 2022.

Notably, the planned layoffs at the retail unit will be over Deutsche Bank’s CEO John Cryan’s target set in late 2015, to retrench 9,000 employees at the bank by the end of 2020.

The past few years have been tough for this bank due to numerous litigations and regulatory proceedings in and outside Germany, unstable European economy at the time and the lender’s involvement in scandals. These factors adversely impacted profits, bringing the bank on the edge of a great fall.

Last November, Cryan announced his plans to reduce thousands of jobs by rolling out technology in the bank’s operations. Further, the CEO foresees scope for branch closures as he feels that customers’ preferences are shifting to digital banking, as they rarely turn up physically at the branches.

These restructuring initiatives are seen as an opportunity to manage costs which, in turn, will help counter the declining revenues. The bank had reported about 19% fall in revenues in its fourth-quarter 2017 results due to low client activity levels and interest rates, along with subdued volatility. Also, the quarter was particularly affected by strategic business disposals.

Notably, in December 2017, Deutsche Bank started a voluntary program with 1,000 layoffs. Employees are likely to give their acceptance to the terms of the plan by October this year.

Bottom Line

Though Deutsche Bank’s restructuring efforts look encouraging, it is really difficult to determine how much the bank will gain, considering the prevailing headwinds.

Shares of Deutsche Bank have declined 3.9% over the last six months on the NYSE, underperforming 4.7% growth recorded by the industry. At present, Deutsche Bank carries a Zacks Rank #5 (Strong Sell).
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#3
Don't worry ...

Our 3 local banks will welcome them with the higherest pay..

Unlike Engineers here fighting to be cheaperest from Spass and AEC agreement
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#4
hahaa.. Rolling on the flor laughing ...I think be Engineer better...too few engineers, all their pay too much...much import more from India and China..drive the cost of engineers down

14-3-2018 12:49 AM
milo178 said:
Don't worry ...

Our 3 local banks will welcome them with the higherest pay..

Unlike Engineers here fighting to be cheaperest from Spass and AEC agreement
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#5
In yr 2016 this forum posted DB bank also about to file for chp 11 ; that time our DBS only traded at $15 ; now is history...
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#6
Sounds like noble...
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#7
Laughing
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#8
14-3-2018 1:57 AM
PervertoSan said:
hahaa.. Rolling on the flor laughing ...I think be Engineer better...too few engineers, all their pay too much...much import more from India and China..drive the cost of engineers down

I think minister pay too high.. Must drive down by getting more opposition into parliament Laughing
There is only OneWorld. One big farking world. Big smile
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#9
Is Singapore branch affected?
Anyone?
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#10




刚刚,一家巨头轰然倒下,危机无法避免
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