Global Bank Job Cuts Approach 60,000 in 2019

The video discusses the significant job cuts in the banking sector, particularly in European banks, where 90% of the cuts are occurring. It compares the situation with US banks, where retirements are more common. The video also highlights the impact on bonuses and pay, which are lower than before. European banks are undergoing rationalization to catch up with the US, but face challenges in growth due to being too lean. The case of Commerzbank and Deutsche Bank is examined, where massive job cuts followed a failed merger.

What structural changes are European banks realizing they need to make?

Discuss the implications of the merger between Commerzbank and Deutsche Bank as mentioned in the text.