Deutsche aims to cut about 23,000 jobs

[krafty]

FRANKFURT: Deutsche Bank said it was reducing its workforce by 15,000 as new Chief Executive John Cryan seeks to improve returns at Germany's biggest bank.

The lender said it would axe 9,000 full-time jobs and 6,000 external contractor positions.

Separately, it plans to dispose of assets with a 4-billion-euro (US$4.37 billion) cost base and 20,000 jobs over the next 24 months.

People familiar with the matter told Reuters last month that as part of its revamp, Deutsche aims to cut about 23,000jobs, or roughly a quarter of its workforce, by reducing technology activities and spinning off its Postbank unit.

(Reporting by Arno Schuetze; Editing by Maria Sheahan)

- Reuters

http://www.channelnewsasia.com/news/business/deutsche-bank-to-cut-work/2225710.html

 

[frenchbriefs]

most daft and stupid sinkies dont understand that Money rules this world,not meritocracy,not democracy not communism or anything but MONEY(plutocracy).HE who has the gold makes the rules just like the british are sucking China's cock now.

most of them think that if they study hard and get a good job and work hard and focus on their career and get promotions and raises be good employees and good doggies to their bosses or companies,they would get thru life relatively unscathed,but little do they know that they are merely working their lives to pay off their liabilities because they spend their lives accumulating liabilities and paying off debts and mortgages rather than accumulating assets and passive income.

in this day and age there is no such thing as not being redundant,how many daft and stupid sinkies go through life thinking they can someone scrape by in life knowing only one job and learning only one skill set and someone manage to stay relevant in the job market for 20 or 30 years?everybody is redundant except for those at the very top.if my company decides one day that we are going to choose between saving the company 3 billion dollars and boosting the stock price by 5 percent or saving 5000 jobs,can u guess what the company or ceo and board of directors is going to do?it doesnt matter if u are just a lowly worker on the floor,it doesnt matter if u are a middle manager in the sales department earning 120k p.a,it doesnt matter if u are the vice president of the logistic and manufacturing arm and u were my friend for 20 years and have been with me and the company from the start,u gotta go means u gotta go.go and watch the movie the company men.and after u are fired what are you going to do?lock urself in the garage and gas urself?or drive taxi like krafti and commit suicide at east coast park.east coast park is a ideal location for commiting suicide,quiet,isolated,lonely,peaceful.

sinkies should be focusing on getting rich and becoming wealthy,be a capitalist and not a slave to capitalism.some people might say the rich worry all the time about losing their wealth,becoming bankrupt and losing it all.but how is it any different from 80 percent of the masses who wake up everyday,board the overcrowded mrt and go to work everyday like a good doggie.kissing the asses of their ft infested workplace and bosses,because of their ultimate fear...that they will lose their jobs and lose it all.downgrade from a condo to a hdb,or downgrade from a 5 room to a 3 room and ur wives have to become maids and daughters prostitutes?u guys are slaves to the matrix until u wake up and learn to embrace capitalism and robert kiyosaki.

 

[krafty]

most daft and stupid sinkies dont understand that Money rules this world,not meritocracy,not democracy not communism or anything but MONEY(plutocracy).HE who has the gold makes the rules just like the british are sucking China's cock now.

most of them think that if they study hard and get a good job and work hard and focus on their career and get promotions and raises be good employees and good doggies to their bosses or companies,they would get thru life relatively unscathed,but little do they know that they are merely working their lives to pay off their liabilities because they spend their lives accumulating liabilities and paying off debts and mortgages rather than accumulating assets and passive income.

in this day and age there is no such thing as not being redundant,how many daft and stupid sinkies go through life thinking they can someone scrape by in life knowing only one job and learning only one skill set and someone manage to stay relevant in the job market for 20 or 30 years?everybody is redundant except for those at the very top.if my company decides one day that we are going to choose between saving the company 3 billion dollars and boosting the stock price by 5 percent or saving 5000 jobs,can u guess what the company or ceo and board of directors is going to do?it doesnt matter if u are just a lowly worker on the floor,it doesnt matter if u are a middle manager in the sales department earning 120k p.a,it doesnt matter if u are the vice president of the logistic and manufacturing arm and u were my friend for 20 years and have been with me and the company from the start,u gotta go means u gotta go.go and watch the movie the company men.and after u are fired what are you going to do?lock urself in the garage and gas urself?or drive taxi like krafti and commit suicide at east coast park.east coast park is a ideal location for commiting suicide,quiet,isolated,lonely,peaceful.

sinkies should be focusing on getting rich and becoming wealthy,be a capitalist and not a slave to capitalism.some people might say the rich worry all the time about losing their wealth,becoming bankrupt and losing it all.but how is it any different from 80 percent of the masses who wake up everyday,board the overcrowded mrt and go to work everyday like a good doggie.kissing the asses of their ft infested workplace and bosses,because of their ultimate fear...that they will lose their jobs and lose it all.downgrade from a condo to a hdb,or downgrade from a 5 room to a 3 room and ur wives have to become maids and daughters prostitutes?u guys are slaves to the matrix until u wake up and learn to embrace capitalism and robert kiyosaki.

bro frenchbrief, i think you are too pessimistic. in sinkieland, i have friends working in UBS for instance, Temasek has a share in it. this is a strategy to prevent the swiss from retrenching the sinkies. companies like singtel which temasek has a share in will cut slack in retrenching sinkies first. if you dun believe, just take a good look. there is no retrenchment in UBS or Singtel or any companies that temasek has a share in it. i have not heard. those affected companies are mostly american, japanese mncs and our local smes. civil service too unless you made a bad mistake, you will be asked to leave.

 

[babuSingh]

most sinkies live by two values....jealousy and greed. That is how they enslave themselves with 35 year loan on their pathetic shoebox with security and swimming pool/gym which they dont even use

 

[TemaseX]

Top 20 banks in the world goes bankrupt close shop will be good. Economy is crap.

 

[Onitsuka]

most daft and stupid sinkies dont understand that Money rules this world,not meritocracy,not democracy not communism or anything but MONEY(plutocracy).HE who has the gold makes the rules just like the british are sucking China's cock now.

most of them think that if they study hard and get a good job and work hard and focus on their career and get promotions and raises be good employees and good doggies to their bosses or companies,they would get thru life relatively unscathed,but little do they know that they are merely working their lives to pay off their liabilities because they spend their lives accumulating liabilities and paying off debts and mortgages rather than accumulating assets and passive income.

in this day and age there is no such thing as not being redundant,how many daft and stupid sinkies go through life thinking they can someone scrape by in life knowing only one job and learning only one skill set and someone manage to stay relevant in the job market for 20 or 30 years?everybody is redundant except for those at the very top.if my company decides one day that we are going to choose between saving the company 3 billion dollars and boosting the stock price by 5 percent or saving 5000 jobs,can u guess what the company or ceo and board of directors is going to do?it doesnt matter if u are just a lowly worker on the floor,it doesnt matter if u are a middle manager in the sales department earning 120k p.a,it doesnt matter if u are the vice president of the logistic and manufacturing arm and u were my friend for 20 years and have been with me and the company from the start,u gotta go means u gotta go.go and watch the movie the company men.and after u are fired what are you going to do?lock urself in the garage and gas urself?or drive taxi like krafti and commit suicide at east coast park.east coast park is a ideal location for commiting suicide,quiet,isolated,lonely,peaceful.

sinkies should be focusing on getting rich and becoming wealthy,be a capitalist and not a slave to capitalism.some people might say the rich worry all the time about losing their wealth,becoming bankrupt and losing it all.but how is it any different from 80 percent of the masses who wake up everyday,board the overcrowded mrt and go to work everyday like a good doggie.kissing the asses of their ft infested workplace and bosses,because of their ultimate fear...that they will lose their jobs and lose it all.downgrade from a condo to a hdb,or downgrade from a 5 room to a 3 room and ur wives have to become maids and daughters prostitutes?u guys are slaves to the matrix until u wake up and learn to embrace capitalism and robert kiyosaki.

You should give a talk at NUS, NTU and SMU.

 

[syed putra]

Its time the Germans the charge of their companies again. Before this British john cryan, it was a ah neh CEO. Just look at chartered bank. Its service sucks.

 

[winnipegjets]

The Ah Nehs in DB Sinkapore will be unaffected. Sinkees will be the affected.

 

[THE_CHANSTER]

Singapore is a major regional Hub for Deutsche. To think that these retrenchments won't impact on Sinkies is wishful thinking.

John Cryan was a board member at both Temasek and UBS before he took on the Deutsche Bank role. Both he and Grübel axed thousands at UBS during the height of the Global financial crisis back in 2008.

 

[krafty]

Singapore is a major regional Hub for Deutsche. To think that these retrenchments won't impact on Sinkies is wishful thinking.

John Cryan was a board member at both Temasek and UBS before he took on the Deutsche Bank role. Both he and Grübel axed thousands at UBS during the height of the Global financial crisis back in 2008.

temasek has a share in UBS, the sinkies in there should be safe.

 

[frenchbriefs]

bro frenchbrief, i think you are too pessimistic. in sinkieland, i have friends working in UBS for instance, Temasek has a share in it. this is a strategy to prevent the swiss from retrenching the sinkies. companies like singtel which temasek has a share in will cut slack in retrenching sinkies first. if you dun believe, just take a good look. there is no retrenchment in UBS or Singtel or any companies that temasek has a share in it. i have not heard. those affected companies are mostly american, japanese mncs and our local smes. civil service too unless you made a bad mistake, you will be asked to leave.

do u trust PAP and temasek holdings with anything?do u trust them with ur life?with ur cpf?to protect ur jobs from fts?to look after you when ur old?i dont even trust them with a columbarian.

 

[krafty]

do u trust PAP and temasek holdings with anything?do u trust them with ur life?with ur cpf?to protect ur jobs from fts?to look after you when ur old?i dont even trust them with a columbarian.

at least with temasek share in UBS, there is leeway for sinkies working there, UBS will not cut sinkies headcount first.

 

[JohnTan]

do u trust PAP and temasek holdings with anything?do u trust them with ur life?with ur cpf?to protect ur jobs from fts?to look after you when ur old?i dont even trust them with a columbarian.

PAP has been doing a remarkable job all these decades. You have good jobs, security, housing, good schools, reliable utilities and a reliable state retirement financial plan. Of course we trust PAP! You think we should trust SDA or WP instead?

 

[Asterix]

sinkies should be focusing on getting rich and becoming wealthy,be a capitalist and not a slave to capitalism.some people might say the rich worry all the time about losing their wealth,becoming bankrupt and losing it all.but how is it any different from 80 percent of the masses who wake up everyday,board the overcrowded mrt and go to work everyday like a good doggie.kissing the asses of their ft infested workplace and bosses,because of their ultimate fear...that they will lose their jobs and lose it all.downgrade from a condo to a hdb,or downgrade from a 5 room to a 3 room and ur wives have to become maids and daughters prostitutes?u guys are slaves to the matrix until u wake up and learn to embrace capitalism and robert kiyosaki.

Yes, fark normal people .......

[video=youtube;2f2kGHcdJYU]https://www.youtube.com/watch?v=2f2kGHcdJYU[/video]

 

[borom]

Who is ultimately responsible for protecting the rights and interests of Singapore's ...workers — the Manpower Ministry or the city's only trade union body?

A cynical reply could be: No difference, since they are like different arms of the same government..... (NTUC)...is affiliated to the ruling People's Action Party........

The fall in membership took NTUC years...workers' belief that joining a government-related union had limited use............

By their easy availability, foreigners have made it easier for exploitative bosses to sack Singaporeans on the flimsiest of excuses, knowing that there are lower-cost alternatives...........

"Some employers are taking advantage of the situation to act unfairly against Singaporean workers," said a union official.

Last week, for example, a Singaporean national serviceman was reportedly sacked on a month's notice by his company one day before he was due to report for reservist training.............
He wrote that he complained to the Manpower Ministry, which allegedly told him that it could not do anything since the company had already given him a month's notice.

On the same day, there was another case. A woman worker who confirmed her pregnancy was pressured by her foreign manager to resign from her job.................

By far, the worst problem in Singapore's new environment is caused by foreign managers who hire or promote their own nationalities over Singaporeans despite government warning..................the Singaporean worker is still short-shifted with no action from the unions.................
.... the Congress maintained its political role of keeping opposition parties from forming trade unions.........

If that is so, shouldn't Singapore's trade unions sever relationship with political parties?

https://sg.news.yahoo.com/blogs/singaporescene/needed-more-protection-075305582.html

Still relevant although Seah Chiang Nee who has retired wrote this in 2012.
Alas the for the 70% , it might not matter or does not know better?

 

[Leckmichamarsch]

Raymond Lee was retrenched yrs ago........

 

[Asterix]

Have faith! The world is not coming to an end.

PS: MBS = mortgage backed securities and not Marina Bay Sands ..........

[video=youtube;v4P4cS5jKmQ]https://www.youtube.com/watch?v=v4P4cS5jKmQ[/video]

 

[JHolmesJr]

The entire stupid Singo life is built around consumerism, shopping, sales and retail.

Take that away and we would wilt away and die.

When will people learn that money is a good servant but a bad master?

 

[krafty]

wtf!it's bad news all over the world economy. only the ministars are enjoying their lives at the expense of ours.:oIo:

 

[frenchbriefs]

Yes, fark normal people .......

[video=youtube;2f2kGHcdJYU]https://www.youtube.com/watch?v=2f2kGHcdJYU[/video]

thats a good movie.