Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
Cerberus Capital Management makes demands of German bank.
Out of its roughly 183 employees, 22 will be leaving the company.
It also signalled its intention to move more of its workforce to Texas.
Investors in the company believe the drop is nothing more than a minor blip.
We focus on one particular coronavirus news item affecting the fintech industry.
Lawyers have said that the firm’s actions can be read as unlawful.
The redundancies account for roughly 8% of the start-up’s workforce.
“We decided to further accelerate our cost reduction program,” says CEO.
“We have made every effort to protect every job,” says fintech.
The losses are the first to be put down to operational reasons.
The engineer quit in protest over AWS’ handling of warehouse employees amid COVID-19.
London-headquartered bank releases Q1 earnings with stark warning for Europe.
FinTech Futures’ weekly coronavirus news wrap.
Trade unions have criticised RBS’ choice to lay off workers amid the crisis.
Monzo and Moven’s CEOs have both taken a 100% pay cut.
Senior management and the board will also take a 25% pay cut.
“Because of the extraordinary impact of the COVID-19 pandemic,” says Noel Quinn.
P2P firm reacts to poor year in external markets by cutting back.
Technology and operations teams will be hit hardest.
37 branches are set to be shuttered by the company as customers go digital.
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