Deutsche Bank Considers Cutting Bonus Pool by as Much as 20%
- Size of decline in bonuses set to outpace 5% drop in headcount
- CEO Sewing seeking to balance cost cuts with retaining talent
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Deutsche Bank AG is considering deep cuts to bonuses for this year as Chief Executive Officer Christian Sewing seeks to eliminate billions of euros of costs in a radical restructuring.
Germany’s largest lender may reduce discretionary compensation by as much as 20%, outpacing a 5% decline in the bank’s workforce this year, according to people with knowledge of the matter. Sewing and the board still haven’t made a final decision since the fourth quarter isn’t yet over, the people said.