Heads to Roll at Dresdner Kleinwort
By BankersBall on Sep 1, 2008 in Layoffs
The acquisition of Dresdner by Commerzbank will be pretty ugly for those in investment banking.
Reuters is reporting that the deal will result in 9,000 jobs lost, of which 2,500 will be jobs based outside of Germany.
More specifically, “many” of the non-German job cuts will be in London, reports Reuters. Commerzbank reportedly “flagged investment banking as one of the businesses where the axe will fall,” according to Reuters.
The FT, meanwhile, cited job cuts totaling 5,500, of which “at least half” would be at Dresdner Kleinwort.
Readers - let us know if you hear anything.
On Sep 2, 2008, Ray Chapman said:
Dresdner Kleinwort going? Then it god riddance to bad rubbish … I used to wander round the floors at 30 Gresham Street wondering ‘Just what DO all these people do gawping at thir screens?’ And now I know. hey lose money - that’s what they do!