Cultural change at Deutsche Bank

The planned restructuring of Deutsche Bank will also significantly reduce jobs in this country. "Of course, there will also be a substantial number of jobs lost in Germany," said CEO Christian Sewing to the "Trade Sheet" (Friday). How many there will be, he did not say. "It is important to know, however, that the planned dismantling is already included in the total number as part of the integration of the postal bank," Sewing added.

As Deutsche Bank announced on Sunday, it intends to cancel all full -time jobs worldwide by the end of 2022 around 18 000 of the latest around 91 000. The credit institution did not mention a figure for Germany. Among other things, Deutsche Bank wishes to withdraw from the share trading business.

Since a merger with the Commerzbank was not considered useful, Sewing wants to advance Deutsche Bank on its own: "There is no point in discussing a third or fourth merger with the Commerzbank now. We have chosen this solitude, now please let us do it first,"he said. "If there were to be a consolidation, I would find European mergers more logical than national ones. But this is music for the future,"Sewing said.

Manager without fingertips

Sewing has long since failed to see the goal of internal cultural change. "We as executives must remain vigilant. Because things still happen that we can't like. We must intervene and counter this immediately,"he said.
Sewing mentioned an incident at the beginning of the week at the Deutsche Bank headquarters in London: "I do not understand at all that someone in our London office on Monday ordered tailors to measure tailors," Sewing said. "On the same day, we had to tell many employees in the stock market that they had to leave because we were closing their department."
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