Deutsche Bank’s decision to give its top echelon employees a massive bonus has led to protests about how incongruous such a payout was in these challenging times for the rank and file employees.
The bank increased bonuses for its investment bankers by 46 percent in 2020, after a pandemic-driven trading boom led to the bank posting its first annual profit in six years.
According to its annual report published on Friday, the bank’s bumper bonus totaled a staggering €1.9bn, which is 16 times Deutsche’s net profit in 2020. In actual terms, almost half to its profit has been allocated as pay for its preferred employees.
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Deutsche Bank CEO s 46% pay rise prompts backlash - Netscape Money & Business
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Deutsche Bank CEO s 46% pay rise in 2020 prompts severe backlash
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