TBH, kind of surprised there hasn't been a wider discussion about the recent drama going on in DB. S&T and effectively ER are basically slashed from the entire organization GLOBALLY. IBD will also be significantly cut back and the overall aim is to cut back 18 THOUSAND heads.
I'm sure there will be people here saying "yeah but...it's ok" and I'll counter that with an anecdote. A few years ago I asked this forum if the changes being made in Credit Suisse will impact ER and general responses were "yeah but it's ok because it's still valued and blah blah." The end result was that half the floor turned over, the culture was collapsed and rebuilt, and half of an incoming class was culled. While CS ER is in a MUCH better place now than before, I think entering during that transition period was a disastrous move that I lucked out with using some political maneuvers and the right senior alliances.
Anyways, would love to hear chirpings from anyone else who has a scoop on DB.
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