Deutsche Bank plans to reduce the year-end bonus pool in its investment banking division by 40%.

(Reuters file photo)

[Financial Channel/Comprehensive Report] Silicon Valley has continued to lay off workers recently, and Wall Street has also blown a cold wind. Last year, high inflation, the central bank raised interest rates, and the global financial market was turbulent. In the disaster area, Deutsche Bank plans to reduce the year-end bonus pool of the investment banking department by 40%.

Wall Street reports that GOOGLE laid off 12,000 employees on Thursday, Intel also announced a large number of layoffs, and Twitter cut expenses in a series of cuts in Musk. Technology giants are in the cold wind. On Wall Street, cutting year-end bonuses and salaries has also become a hot topic among Wall Street employees.

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According to media reports, Deutsche Bank will cut the year-end bonus of employees in the investment banking department by 40%, but will expand the bonus pool for traders. The essential.

The bonus pool of Deutsche Bank's investment banking department will be reduced by 1/10 as a whole, and employees in departments such as mergers and acquisitions and capital markets will be affected to varying degrees.

In the first three quarters of last year, Deutsche Bank's investment banking business revenue fell by 58% year-on-year, and the year-end bonus is often related to the performance of the department.

Deutsche Bank's cut to its investment banking division's bonus pool was similar to Goldman's cut, but larger than the 30 percent cuts at JPMorgan, Citigroup and Bank of America.

Just last week, Goldman Sachs launched the largest layoffs in history, and 3,200 employees lost their jobs overnight; also last week, Nomura Securities, Japan's largest brokerage, planned to lay off about 10% of its employees in the investment banking department in London, affecting The largest are the leveraged finance, financial institutions group and technology group.

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