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Stitch up! Hundreds fired as Deutsche Bank chiefs get £1,500 suits

Hello, tailors: Pair leave Deutsche Bank in London

BOSSES at Deutsche Bank’s London offices were being fitted for new £1,500 suits as hundreds of workers were given their marching orders.

Senior staff were measured up by two tailors as tearful staff downstairs were told to clear their desks by 11am.

It happened just hours after the bank revealed that up to 18,000 people would be sacked across the world. Sources estimate that 3,200 could lose their jobs in London. One banker told The Daily Telegraph: ‘I’m just trying to get my head straight.’

Ian Fielding-Calcutt and Alex Riley, who work for Fielding & Nicholson Tailoring, were pictured leaving the offices holding several suit bags. It was thought they were among employees clutching personal belongings and redundancy envelopes — and their image was beamed around the world.

But it was later revealed that the two men were actually from one of the capital’s top bespoke tailors.

Mr Fielding-Calcutt, who owns the firm, told the Financial News website: ‘It’s just a coincidence that we were snapped coming out of the building at the time others were being sacked. The assumption was we were bankers being fired, but we were actually there to fit suits for senior members of staff.’

Mr Fielding-Calcutt admitted their ‘timing was not great’. He added: ‘I think a lot of the people getting laid off were traders, who don’t wear suits, so we just went ahead as normal with our clients who obviously weren’t affected.’

Deutsche Bank is reducing staff numbers worldwide from 91,500 to 74,000 — a cut of over 20 per cent. A wave of redundancies now looks set to hit its worldwide headquarters in Frankfurt, Germany, where changes in employment law make it easier to fire people earning over £200,000 a year.