For a while, John Cryan tried to blame even Mario Draghi and the low rates that would eat the profits of his Deutsche Bank. The truth is that the British CEO is trying to put a bank back on track, devastated by the bad previous administrations and by the heavy costs of the lawsuits. And the look at an increasingly mechanized future has made him tell the Financial Times that the cost of the cuts needed to keep his colossal bank on the right track will also fall on its employees. After the redundancies already decided in recent years, Cryan has hinted that thousands of jobs will be wiped out.

From the robotization, the British director argued in an interview with the City newspaper, “we can gain greater margins”. Also, because “we are too based on manual labor, which makes us exposed to errors and inefficiency. There is a lot we can learn from machines and we can do a lot of mechanization”. The consequence is logical, he concluded: “We employ 97,000 people and most of our competitors have half of those employees”.

At the end of 2015, Cryan has already announced 9,000 redundancies and so far, 4,000 employees have lost their jobs. In September the British top manager was even more brutal: “The truth is that we will no longer need all these people,” he said, referring to the 90,000 employees. “In our banks we have people who act like robots, who do mechanical things. Tomorrow we will have robots that will behave like human beings.” On that occasion he had invited his colleagues to “embrace the revolution” and to realize that many work “as ABCs” and can therefore be replaced.

Moreover, further heavy news from Germany is expected tomorrow. The Siemens group could announce up to 6000 cuts and the closure of some plants. After the rumors of recent days, the chief of staff, Janina Kugel, confirmed that in mid-November the group will communicate the extent of the cuts. Not everyone will be able to move within the group, he admitted, confirming fears about layoffs. Tomorrow, at the annual press conference, the CEO, Joe Kaeser, is expected to reveal some more details.