Study QS1—Ratios, averages and fractions in the Pearson Edexcel A Level Business specification, with the knowledge and exam application needed for accurate mark-scheme responses.
Extract C Redundancies and organisational changes at Deutsche Bank Deutsche Bank was founded 150 years ago in Germany. Today it is a leading global bank. In 2019, 18,000 Deutsche Bank employees, working in Hong Kong, New York and London, were made redundant as part of a restructuring plan. This plan included drastically reducing its investment banking division and removing layers of management to make a flatter organisational structure. A Deutsche Bank spokesperson said: "We have decided to focus our resources on areas of the business where customers need us most." The bank used collective bargaining to agree redundancy payments for employees who lost their jobs. These agreements were put in place to protect its reputation and limit the number of unfair dismissal cases.
Extract D
Global market share by \% revenue of the 10 leading investment banks in 2019
Extract E Positive Impact marketing campaign at Deutsche Bank Deutsche Bank plans to launch a global advertisement campaign, named Positive Impact. It uses customer stories to show the benefits of using the bank. These stories are told through short films featuring customers and bankers, showing how they support customers to achieve their plans and ambitions. Deutsche Bank will also use social media to engage with its employees and customers. In addition a television advertisement will be used to show the partnership between Laura Dekker, the youngest person to sail solo around the world, and her father, who helped plan her epic voyage and whose encouragement from the shore helped her to succeed. The advertisement uses the relationship between Laura and her father as an inspiring example of positive impact, which represents the bank's role in enabling the ambitions and dreams of its clients to be met.
The average yearly salary of the 18,000 Deutsche Bank employees who were made
redundant was $80000.
Those made redundant were given three months' pay plus a bonus of $8000
per employee.
Using the above data, calculate the total amount of redundancy payments made
by Deutsche Bank. You are advised to show your workings.