It was a bad enough look for Deutsche Bank that the lender started one of the largest rounds of Wall Street firings since Lehman this week. But the revelation that two tailors visited DB’s London office on Monday to tailors custom $1,900 suits for some MDs while thousands of employees were being handed their walking papers heaped ridicule on the bank for the unforced PR blunder at an extremely sensitive time.
If only one of the tailors wasn’t carrying a ‘bitcoin’ branded garment bag – then he likely wouldn’t have been photographed by the press, which initially identified him as a just-fired DB employee, but soon corrected its mistake.
The banks comms department refused to acknowledge the story when it first surfaced, but as the headlines spread, it seems CEO Christian Sewing has decided to address the issue before things get even more out of hand.
According to Barrons, which cited reports in the German press, Sewing personally reprimanded the senior bankers for being inconsiderate enough to invite tailors to the office on the same day as the largest mass layoff in the bank’s recent history.
Christian Sewing, the bank’s chief executive, told Handelsblatt, the German newspaper: “This behavior is in no way in line with our values…I assume that the two colleagues will not forget my call.”
Of course, if we were them, we’d be updating our resumes and reaching out to LinkedIn contacts. Earning the enmity of your boss’s boss’s boss’s boss at a time of great structural upheaval within your organization certainly doesn’t bode well for their employment prospects.