One of the biggest banks in Europe yesterday shocked everyone when they revealed about the massive job cuts. Deutsche Bank decided to leave more than 18000 of its current employees who now will be searching for new jobs. However, Experts from the finance industry says that it’s not going to be an easy thing to do for them. Deutsche Bank yesterday announced it officially that they are cutting more than 18000 of their current employee staff and since that many speculations have come so far about it.
Currently, the situation in the banking sector of Europe is not good because there is a shortage of jobs in there and it will be hard for these new job seekers to find a good job. Most of these workers who are seeking jobs are at worst times. Currently, the whole banking sector is going through hard phases and transformation. There are many major banks which are trying to keep up their profit and restructuring their core business by cutting jobs.
Something like this had already happened in the 2008 financial crisis when many people got unemployed because of the slow economy. Now the current situation is somehow similar to 2008 because these job seeker employees of Deutsche Bank are looking for a job opportunity in the entire very competitive market. Deutsche Bank is trying to restructure its core business by cutting employees, and that’s why they have decided to let 18000 of its current employees. Some analysts think only a few would be able to get desired job title in the baking industry and others would find it quite hard. However, some experts said all of these outgoing employees from Deutsche banks are said to be a lot of quality ones. It would be interesting to see how they will manage this situation.