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"What a joke."

Laid off Deutsche Bank equities traders complain they're still receiving employee communications

Outside Deutsche Bank on July 8th

This week marks exactly a month since the Monday Deutsche Bank decided to do away with thousands of staff in its equities division. Despite being let go by the bank, unwanted U.S. equities staff say they're still receiving communication from Deutsche as if they're employees.

Many, for example, received text messages last Friday informing them of the bank's issues with its U.S. email service. 

"Due to an ongoing Outlook service issue, Americas employees are unable to access their emails," read the message, seen by eFinancialCareers. Employees were advised to call two telephone numbers in the event of an emergency.

One former equities trader at the bank said the communication was mystifying given that Deutsche let him go on July 8th, removing his email access and deleting his corporate account at that time. "It seems they haven't deleted the numbers of ex-employees who are on their call tree," he said. "What a joke."

Deutsche Bank declined to comment on the messages, which follow the revelation that some fired employees in the bank's equities division still had access to their emails until late July.

In separate news, the German bank last week ran a London recruitment evening for graduates interested in jobs in equity research. Despite closing its equities sales and trading operation, DB is maintaining an equity research presence to support its equity capital markets business. 

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Photo: Tristan Bejawn, copyright eFinancialCareers


AUTHORSarah Butcher Global Editor

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