Deutsche Bank is embarking on a radical restructuring with job cuts around the world. But will it be enough to deliver the returns shareholders expect?
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But the woes of terminated staff don't concern Deutsche Bank's Chief Executive, Christian Sewing. He has a bank to rescue, and investors to placate. His letter to staff had a distinctly ruthless tone: Just how little concern Sewing has for the feelings of the staff he is letting go became apparent at 9.30 am London time. While hundreds of staff in the London office were being sacked, executive management held a conference call – from the London office. During that call, the Chief Executive, Christian Sewing, announced that the bank still plans to maintain a large presence in London. In fact it is intending to move into shiny new offices on Moorgate.
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