Crypto markets across the globe had struggled with layoffs and salary delays last year. Pressure on financial resources with high interest rates and a crunch on investor appetite made organizations struggle in 2023. However, the start of 2024 hasn’t been any different either. Mass layoffs that started in 2023 and have spilled their way into 2024 as well.
Deutsche Bank announces layoffs, follows Citi’s suit
Germany’s Deutsche Bank announced that it is planning to cut 3,500 jobs to reduce costs. Reports suggest that Germany’s largest lender has made headway toward the goal of reducing capital outflow, but it still needs to find €1.6 billion ($1.7 billion) in savings, part of which would come from “simplified workflows and automation.”
Deutsche Bank is the second to plan layoffs this month. Following the same suit, banking giant Citi had also announced that they are going to reduce around 20,000 of their workforce. The layoffs for both banks came after they had posted disap
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