Deutsche Bank Fires Hundreds of US Bankers, Nasdaq to Open Crypto Market!

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by Thinker

As part of its latest disastrous earnings, which saw trading revenues tumble by 17% as new CEO Christian Sewing took over, we reported that Deutsche Bank announced a sweeping restructuring plan, abandoning its long-running ambitions to be a top global securities firm, scaling back U.S. rates sales and trading, reducing the corporate finance business in the U.S. and Asia, and reviewing its global equities business with a view toward cutting it back, the bank said in a statement. The measures will lead to a “significant reduction” in the 97,130-person workforce this year, Deutsche Bank said. We translated it more simply: massive layoffs.

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Predictably, the German bank wasted no time, and according to Reuters and Bloomberg, the purge began overnight when Deutsche fired 300 U.S.-based investment bankers on Wednesday with another 100 pink sl
ips expected over the next 24 hours.

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