Deutsche Bank CEO says he reprimanded executives for having $1,800 suits fitted day of mass layoffs

When asked if there would be any personnel consequences, Sewing said only that he called the "colleagues" involved and discussed the incident with them.

"I assume in any case that the two colleagues will not forget my telephone call," Sewing said, suggesting he gave them a tongue-lashing.that it was shutting down its global stock trading business and slashing 18,000 positions in a massive restructuring to improve the troubled bank's profitability. Deutsche once sought to compete with large American banks on Wall Street, a strategy that began with its $10 billion acquisition of Bankers Trust in the late 1990s.

But the German bank's aggressive and ambitious strategy to become a global power house ultimately backfired. Deutsche has been severely weakened by a series of costly scandals related to business practices in the run-up to the 2008 financial crisis as well as other alleged wrongdoing.with the U.S. Justice Department in January 2017 for allegedly misleading investors in the sale of mortgage-backed securities.

CNBC Reprimanded? Are they children? Your bank need to reassess the hiring criteria for executive roles. Put common sense and sense of decency ahead of MBAs.

Tom_Winter CNBC The brave executive I nominate for CEO of the year. They should have waited a day but however if this would have delayed the suit delivery more than a week than it should have been considered a wise move.

CNBC Those bankers have low value & should be layoff too.

CNBC Tailors leaving the building and the CEO's last name is 'CHRISTIAN Sewing.' The jokes write themselves. WhataTime

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