Deutsche Bank is being slammed for paying $52 million ‘golden parachutes’ to fired execs — right after managers got lavish suits made while thousands got the axe
|07/10/2019||Posted by BusinessMediaguide.Com under General World News||
Fielding-Calcutt told Financial News: “Our timing was not great,” and that he had been fitting suits for managing directors at the bank for more than a decade.
He added: “Almost 30% of our business comes from investment bankers. I think a lot of the people getting laid off were traders of some sort, who don’t wear suits, and so we just went ahead as normal with our clients who obviously weren’t affected by the cuts.”
The German bank’s turbulent 14 months culminated in 18,000 jobs being cut across its offices from Sydney to New York.
- Deutsche Bank is being slammed for paying out millions to departing senior managers.
- A picture of two men thought to be fired Deutsche bankers went viral on Twitter, after they were photographed leaving the bank bags in hand.
- It turns out they were fitting $1,800 suits for the German bank’s directors, all while hundreds of staff were being fired.
- Deutsche earlier this week announced a massive overhaul which would over the next few years cut 18,000 jobs.
- stories on Markets Insider.
Deutsche’s overhaul just seems to keep getting messier.
On the morning of the announcement that 18,000 jobs were being cut, the read more >>>