Deutsche bank will announce changes and a new strategy this sunday, after a board meeting. The dismissal of 20 thousand employees and the sale of us$ 56 billion in assets are expected. Deutsche bank is to announce the biggest banking job cut since lehman brothers. It will free up 20,000 jobs around the world and sell assets for us$56 billion. He will decide the minor details this sunday, at an emergency board meeting in germany. Deutsche bank is preparing for a real "Sacrifice". It will be this sunday, when germany's largest lender announces the cut of 20 thousand jobs and the decision to dispose of assets for 50 billion euros (about us $ 56 billion). It will be the biggest jobs debacle in global banking since lehman brothers collapsed a decade ago.
On that occasion 26,000 direct jobs were lost almost immediately. Then more positions fell over a three-year period. The first "Victim" was the head of deutsche's investment division, garth ritchie, who resigned on friday before the announcement of the restructuring. The second is retail Professional Person Email List banking chief frank strauss, who is leaving germany's biggest lender because he disagrees with a change in strategy by christian sewing, chief executive. The latter was confirmed by the financial times . Google prepares for a 'hybrid model' of work deustche's idea would be to abandon its global ambitions , concentrate on germany and stop focusing on being europe's main rival against goldman sachs.
The departure of ritchie, the highest paid executive, was made by mutual agreement, as reported by deustche bank. “the 51-year-old south african is expected to walk away with around us$13 million, as he had signed a new five-year deal just nine months ago, according to calculations by the financial times. The bank is likely to spread the layoffs over several years, but what is certain is that everyone will find out on monday morning, after sunday's meeting. Radical changes sewing, who has been in office for just over a year, is the one accused of being responsible for the radical measures of a bank that has been in progressive decline for almost a decade in the investment banking business. It was never able to recover from the changes in controls that emerged after the 2008 crisis, especially the obligation that lenders have to operate with more capital and less debt.