Quote:
Originally Posted by Unregistered
Generally banks are not doing very well globally. Although Barclays & DB are not specifically in a bad shape, they are nonetheless cost cutting like mad like the whole industry.
What this means is that increment and bonus for the next few years are going to be very low, so you need to factor in as your 15% increase in base @ 75k could be offset by low bonuses in the future.
There is no such thing as a retrenchment point. Sometimes the lower grunts get it, sometimes the MD/SVPs get it. Depends on the situation, no such thing as hiding at some level is safe. It is the nature of banks to conduct frequent termination/pay freeze/zero bonus to control headcount cost.
|
Yes, I was reading StanChart plans to cut about 1,000 senior staff while Barclays and Deutsche bank cuts all across the board.
Between Barclays and Deutsche bank, how does their structure adds up? From what I read, Barclays have already moved most of their backoffice operations to India (or they are still moving)
Currently Barclays holds 3,000 headcount and Deutsche bank holds 2,000 headcount in SG. Is it true Deutsche bank has yet to retrench SG position in the last 10 years?
For Barclays, it was rumored that they retrenched 300 SG headcount last year. Source (
Singapore News Alternative: Is Barclays Singapore planning to retrench another 500 more employees in the coming months?)