Deutsche gets Bankers Trust for $10 billion
Article Abstract:
A series of events dating back to September 1994 led up to the purchase of Bankers Trust Corp. by Deutsche Bank AG for $10 billion. Now the German-owned bank will cut jobs, mostly in London and New York, reducing a workforce of over 20,000 in the two cities by 5,500 jobs. Chairman Rolf-Ernst Breuer minced no words at the announcement; a clash of cultures is not his concern.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Siemens to sell big units in bid to shore up profitability
Article Abstract:
Munich, Germany-based Siemens A.G. has dragged its feet about closing units or selling unprofitable businesses until now. It will sell its semiconductor business, copper cable business, electronic components and locomotives. Employees of the companies to be sold total about 60,000.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: London and Frankfurt stock exchanges form alliance. Deutsche Bank wants a US investment deal. Volkswagen, in shift, will set up fund for slave workers
- Abstracts: Chancellor makes a foray into TV with Lin purchase. Spanish-speaking consumers are the object of a growing number of marketers' desires
- Abstracts: Paris aghast at mere hint of US stake in the tower. A sputter in the Coke machine; when its customers fell ill, a master marketer faltered