Deutsche Bank Announces Job Cuts and Payout Boost
TL;DR Summary
Deutsche Bank is expected to offer low bonuses for 2023 as the investment bank suffered a €200m loss in the fourth quarter, with profits down 36% from the previous year. Despite hiring over 600 front office bankers and traders, compensation spending only increased by 6% year-on-year, leading to lower average pay per head. With a reputation for generous bonuses, employees are anticipating disappointing payouts due to the influx of new hires and the acquisition of Numis. Senior managers have not provided much insight, but the mood among employees is described as "sober" with low expectations for the upcoming bonuses.
- Deutsche Bank bonuses: "The mood is sober. People expect it will be very bad" eFinancialCareers
- Deutsche Bank Unveils Job Cuts, Plans Big Payout Boost The Wall Street Journal
- Deutsche Bank: Q4 Earnings Snapshot Quartz
- Deutsche Bank to cut 3,500 jobs CNN
- Deutsche Bank to lay off 3,500 employees Fox Business
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