An ongoing merger talk between Germany’s two largest banks, Deutsche Bank and Commerzbank, had pushed 10,000 US workers on edge, as a merger deal would more likely press Deutsche bank to dispose a large section of its workforce and even to let go of its US business.
Recent merger talks which unveiled itself into public from gossips for the first time on government pressure in the wake of a large-scale financial penalization looming over Deutsche bank’s link to a $200 billion money laundering scandal with an Estonian branch of Danske Bank.
Besides, analysts had already started to question the future of Deutsche bank US trading and investment venture, as some of its stakeholders had been calling for further cuts on top of another one announced last year. If the merger deal comes into effect, the German government, which holds a 15 percent stake in Commerzbank, would likely to retain a stake as well in the combined business.
Considering the uncertainty of the merger deal, both of these rival financial organizations had stayed cautious over the outcome and yet to make any affirmative comment. One of the Deutsche bank’s senior employees of US equity sales business, said in terms of anonymity, “We don’t know what’s going on. Everything is up in the air”.