Deutsche Bank fires investment bankers in New York

Deutsche Bank fires investment bankers in New York

The bank lays off employees in the USA.  Source: imago images/Levine-Roberts
Deutsche Bank in New York

The bank lays off employees in the USA.

(Foto: imago images/Levine-Roberts)

New York According to an insider, Deutsche Bank has laid off employees from the underwriting and advisory business in investment banking in New York. The institute is cutting staff because of the weak business with takeovers and mergers, as a person familiar with the plans said on Thursday. Workers in the US were informed of the decisions on Wednesday. It is unclear how many employees would have to leave the institute.

It was mainly junior bankers who lost their jobs, reported “Bloomberg” and “The New York Post” on Thursday. A spokesman for Deutsche Bank declined to comment on the reports.

After a record year of M&A deals in 2021, this year’s commissions in investment banking collapsed drastically due to the weak economy. In September, the leading US investment bank Goldman Sachs announced layoffs.

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