Deutsche Bank CEO says he reprimanded executives for having $1,800 suits fitted day of mass layoffs

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Deutsche Bank CEO says he reprimanded executives for having $1,800 suits fitted day of mass layoffs

Post by IceCube » Sat Jul 13, 2019 9:12 am

Deutsche Bank CEO Christian Sewing says he reprimanded executives for having expensive custom suits tailored the day that mass layoffs hit the troubled bank's offices in London, New York and Tokyo.

Two tailors were photographed coming out of the German bank's London office on Monday. Originally, the men were incorrectly identified as employees who had been sacked.

In reality, they were at Deutsche's London office to fit $1,800 suits for senior staff who were not hit by the job cuts, according to a report in Financial News.

"That someone would let a tailor come on such a day is disrespectful," Sewing said in an interview with the German newspaper Handelsblatt on Thursday. "In no way is this behavior in keeping with our values."

When asked if there would be any personnel consequences, Sewing said only that he called the "colleagues" involved and discussed the incident with them.

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Apparently, there is such a thing as "optics".

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