Deutsche Bank CEO Urges Germans to Work Harder to Escape Slump



Deutsche Bank CEO Urges Germans to Work Harder to Escape Slump

https://www.bloomberg.com/news/articles/2024-09-04/deutsche-bank-ceo-urges-germans-to-work-harder-to-escape-slump

by bloomberg

38 comments
  1. Working more just isn’t worth it in Germany.

    We have insane worker protection laws so its basically impossible to be fired if you do the bare minimum.

    On the other hand we have insanely high taxes. At some point you pay 40-50% tax on every extra € you earn and I’m talking about 60-80k€/year and not 300k€. 60k€ is a good salary but nowhere near being rich lol. Especially when a house/appartment costs 600k€+ in big cities and rent is easily 1-1,5k (+500/1k more in Munich/Berlin).

    That’s why people switch to 32h/week or less.

  2. We have already entered the type of corporate dystopia often seen in bleak sci-fi movies. It will get worse and there’s no turning back in the current system.

  3. >EU citizens work about 34 hours a week on average compared with just about 28 hours in Germany, Sewing said at the conference.

    Yeah, because we have a lot of part-time workers, especially women. While its more common for one spouse to work while the other stays home in other countries, here its often both of them working.

  4. Companies make record profits. Why on earth do I need to work harder? They should finally pay their taxes, then all would be solved.

  5. Give me a goal to work for, like a house or something like that. Just work hard so I can waste more money on senseless consume that won’t make me happier than spending time with friends or hobbies is a bad deal for me, why would I do this.

  6. I’m surprised he hasn’t mentioned anything about avoiding avocado toast or brewing coffee at home…../s

  7. Nah, I’m good. Will probably reduce hours soon and I’m not alone in my circle of friends and among my colleagues with that idea.
    Material gain just doesn’t cut it anymore I’m afraid, more free time is simply the better choice compared to a few euros more.

  8. Actually hilarious coming from one of the slowest, most customer-unfriendly banks in the world. 

    Deutsche struggles so much with basic digitalization and it takes months to get a new employee their login information so they can, you know, do their job. It once took FIVE MONTHS for my access to our businesses’ primary bank account to come. I know quite a few people who have worked there and it’s a place where productivity goes to die; it takes all of eternity for anything to get done 

    Maybe this guy should look at the bureaucratic monster inside of his own company for a start, considering how much Deutsche holds back SMEs that are customers of the bank. 

  9. isn’t it the same bank that just changed it’s NVDA price target from $132 to $145? 🤣 oh boy

  10. Makes me remember the Boing shitstorm with the 747 max and the CEO (at the time) getting called out mid hearing for his multi million dollar bonus…

    Fuck off.

  11. This mofo tanked the bank and still got a 8.something million € bonus.

    Per € investment I as a privat random joe have won against the DB. It’s not that anyone needs to work harder, you just need to stop getting grifted into buying into bullshit.

  12. Next headline: “Deustche Bank CEO urges corporations to relocate their employees into camps for work where they can concentrate better”

  13. Yeah, I’m sure this guy is working 37,000 hours a day to justify his salary. What? He isn’t working that much?

  14. More germans would work harder if hard work would actually pay off.

    1.) Lots of all-in contracts. Harder work with more hours still result in the same pay. And as a thank you you will just get more work

    2.) Tons of unpaid overtime. [In 2023, employees worked a total of 1.3 billion hours of overtime, with more than half (775 million hours) unpaid.](https://www.thestepstonegroup.com/english/insights/articles/no-working-morale-is-the-good-reputation-of-the-german-workforce-fading/)

  15. I won’t pull harder on the cart as long as the leader is sitting on it. If they buckle up in front of it and start pulling too, I’d arguably follow.

  16. Isn’t that the bank that’s in the bed, under stinky, sweaty covers with Felonious Donald Trump?

  17. As usual, have the common man work harded so that the CEOs can keep on getting richer and richer

Leave a Reply