MASS LAYOFFS: Australia's Deutsche Bank staff to learn fate
- molly510
- Jul 8, 2019
- 1 min read
Deutsche Bank is reportedly in meetings with its Australian staff to discuss how the firm's global downsizing plan will affect local operations.
The German lender announced overnight it would cut 18,000 staff worldwide as well as scrap its global equities business and scale back its investment bank in a broad, $A11.9 billion restructure.
It has been reported the bank's Australian staff are in meetings on Monday to learn what the new strategy will mean for them.
The Australian Financial Review reported Deutsche's head of Australian equities, Glenn Morgan, has told clients his team's wind-down will begin on Monday.
When contacted for comment on its Australian operations, Deutsche pointed AAP to its previous global press releases.
Comments