Deutsche protects payouts with ‘retention awards’
Deutsche Bank achieved a headline cut in its bonus pool of nearly 80% for 2016 to €500m. But this is dwarfed by the €1.1bn the bank is paying in ‘retention awards’, which it insists are not part of 2016 compensation, but a way to keep essential employees at the bank.
The ‘retention awards’ were given to “employees who are key contributors to the bank’s future success in crucial roles, who are in high demand in the market and who would be very difficult to replace”.
Handing out these awards was seen as a crucial way of maintaining morale
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