Deutsche Bank Cuts 2016 Bonus Pool by Almost 80%, FAS Reports
ByDeutsche Bank AG cut its bonus pool for 2016 by almost 80 percent, Frankfurter Allgemeine Sonntagszeitung reported, a figure unmatched in the bank’s recent history as it tries to counteract the impact of low interest rates and legal expenses.
Germany’s largest lender is reducing the payments with an eye toward shareholders and is aware it will be “frustrating” for employees, Chief Administrative Officer Karl von Rohr told the German Sunday newspaper. The measures will affect about a quarter of the 100,000 staff. Some workers in key positions — about 5,000 in all — will get a special long-term incentive tied to the bank’s performance and paid out after as long as six years, von Rohr said…
Deutsche Bank Cuts 2016 Bonus Pool by Almost 80%, FAS Reports
