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In the morning, when Deutsche Bank began making thousands of job cuts as part of a general restructuring of the troubled German lender, some of the company's directors were in the process of being equipped for lawsuits of a minimum amount of £ 1,500.
The news came after two tailors were photographed leaving Monday's Deutsche headquarters in London, holding suit bags. They were wrongly identified as employees leaving the bank with their belongings after being fired. The photo was widely distributed on Twitter and was used by the guardian, Financial Times and Reuters.
The two men were actually Ian Fielding-Calcutt and Alex Riley, who work for Fielding & Nicholson Tailoring. They were there to have a suit cut for a group of bank executives who were not affected by the job cuts.
"It's a coincidence that we were photographed leaving the building when other people were fired," said Fielding-Calcutt, owner of the sewing company. Financial News. "The badumption was that we were one of the bankers to be fired, but we were there to prepare suits for senior staff."
Deutsche refused to comment.
On Sunday, Deutsche announced that the company would exit global equity trading, remove 18,000 jobs and transfer 75 billion euros of risk-weighted badets into a "bad bank" as part of the deal. of a major overhaul of the lender's business.
"We did not have the right timing," said Fielding-Calcutt, who says he's been wearing clothes for bank CEOs for over 12 years. "Almost 30% of our business comes from investment banks. I think a lot of people who were fired were merchants of some sort who did not wear suits. That is why we went from the front as usual with our customers who, obviously, were not affected by the cuts. "
Details of the German bank's latest plan to reorganize its business leaked well before Sunday, when the restructuring was officially announced.
Some affected staff members left the building before lunch time on Monday. A shopping woman emerged in tears. "I can not believe it," she said. Contractors were the first to be cut, some said FN.
To contact the author of this story with comments or news, send an email to Chris Newlands
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