Deutsche Bank plans 18,000 job cuts in robot strategy called “Operations 4.0”.
Operations 4.0 Underway
Deutsche Bank says Operations 4.0 is already underway.
The plan is to Replace 18,000 Jobs With Robots.
Mark Matthews, head of operations for Deutsche’s corporate and investment bank, told Financial News that machine learning algorithms “massively increased productivity” and “redistribute capacity.”
The London-based news organization said that Deutsche is pushing to “automate large parts of its back-office” via a new strategy called “Operations 4.0,” as part of its $6.6 billion savings initiative over the next three years.
Matthews told FN that the machine learning tools helped to save “680,000 hours of manual work” and that it “so far used bots to process 5 million transactions in its corporate bank and perform 3.4 million checks within its investment bank.”
In what insiders called a surprising move, the bank this summer said it will keep the bulk of its equity research department despite eliminating the bulk of its stocks sales and trading division.
Why stop at 18,000? Please consider my 8 step proposal to get rid of everybody.
The light went out in the church, and that’s the reason the world got dark. Dark times were perpetrated by the “last one out, turn out the lights” “The church lights have gone OUT”.
Just Fire Everybody
- Who needs proprietary equity traders? Fire them all. Machines do all the trading anyway.
- Who needs stock analysts? Let computers determine the “Strong Buys”.
- Who needs credit analysts? Computers already do the scoring.
- Derivatives? What a mess. Unwind them all and stay away. Fire everyone involved.
- Real Estate Appraisals? That’s what Zillow’s for.
- Credit card processing? Outsource 100% of it.
- Statement processing? Outsource that too.
- Loans? Let computers decide which loans to make. Then keep none of them. Instead, securitize 100% of them. Source
Editor, Bankster Crime
MY MISSION IS NOT TO CONVINCE YOU, ONLY TO INFORM YOU…
The Birth Pains Are Growing Stronger….
“Unless God has raised you up for this very thing, you will be worn out by the opposition of man and devils”…
My name is Steve Meyers and I need to share a vision and warning that the Lord showed me back in April 2007….
Many of you will ask why I waited so long to share the warning. I didn’t. I shared the story with everyone that would listen from pastors to friends to family to colleagues. Immediately following the initial vision, I called a close friend. I told him to sit down that I had something to tell him. I needed it documented as I knew this was supernatural and from God. As I witness events unfolding today, I need to share the vision again.
The risk of loss in trading futures and options on futures can be substantial. The author does not guarantee the accuracy of the above information, although it is believed that the sources are reliable and the information accurate. The author assumes no liability or responsibility for direct or indirect, special, consequential or incidental damages or for any other damages relating or arising out of any action taken as a result of any information or advice contained in this commentary. The author disclaims any express or implied liability or responsibility for any action taken, which is solely at the liability and responsibility of the user.
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