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May 24, 2018

Deutsche Bank to slash more than 7,000 jobs –May 24, 2018- business live | Business | The Guardian

Deutsche Bank to slash more than 7,000 jobs – business live | Business

Julia Kollewe

“We really no longer need Deutsche Bank. There are already plenty of retail banks in Germany to provide competition and a good service to consumers. In investment banking it is the same as there are still good European investment banks which can provide a good service to German industry.
It is almost impossible now to recover from years of mismanagement. At the same time, to attract the people they still need, they have to pay more than others where bonus prospects are much better. It is a spiral of decline and it started perhaps 20 years ago, even before the financial crisis.
“Barclays, along with other European banks, are perfectly capable of meeting the needs of German industry for corporate and investment banking services. Deutsche might be better acknowledging that its days as a global champion and as a German regional champion are over and that sometimes banks reach the end of their lives.”

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