EDITORIAL: Dividend hypocrisy is a slap in the face for workers
Deutsche Bank is showing disregard for its employees and its social responsibility
Deutsche Bank, Germany’s biggest bank, has announced that it will cut 3,500 staff jobs as part of its overhaul to return to profitability after years of losses. This is a cruel and unjust decision that shows the bank’s disregard for its employees and its social responsibility.
The bank’s management claims that the job cuts are necessary to reduce costs and improve efficiency. But at the same time, the bank has decided to pay dividends to its shareholders and buy back €1.6bn worth of shares. This is a blatant contradiction that reveals the bank’s true priorities: rewarding its investors at the expense of its workers...
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