As Bloomberg reports, some of them will happen in the U.S. where Deutsche is shrinking its presence.
If you are among those cuts, don't underestimate the sense of loss. It's not only the future of your income. It's your identity. No, a job is never only how to make a living. At Insead School of Business Herminia Ibarra's research confirmed how central and intense a work identity is. Here is that study.
Yesterday, on Odwyerpr.com I published an article about how laid-off professionals and those engaged in career change can protect yourselves during your transitions.
Protect yourself? Yes, you will have to.
When between identities you are vulnerable to all kinds of attacks.
There will be intrusive questioning.
And, bringing up your "sins" of the past.
Here you can read my article.
One strategy to put yourself in a position of strength during your transition is to create an interim identity or temporary elevator speech. The tendency is to tell the world who you used to be - an executive at Deutsche - or the limbo you're in currently - outplacement. All wrong.
You create a buffer between you and the world (sometimes a very dark place) by investing in a fresh or just-in-time work role. It doesn't have to be bringing in revenue. And you don't have to have any intention of sticking with it. All it has to do is be perceived out there as work you are engaged in now.
One approach is to find a cause, such as a political campaign or a fundraising outreach. Volunteer. As you prove yourself, complex tasks will be assigned to you. Meanwhile, your elevator speech is "I'm managing publicity or finances for X, who is running for U.S. Senator."
Another is to be explicit about where you are in your startup business. Of course, you can try out being an entrepreneur. It may even pan out. For the interim, your elevator speech is, "In my startup, I am getting ready to approach venture capitalists."
When you get a job, in your elevator speech you can phase out the startup or mention you are in the process of selling it.
Protected from attack, all your energy can go into what's Next.
To get to that Next, it's likely you will have to exit the comfort zone you had established for yourself while at Deutsche Bank. Here is a book guiding that process, free to download Download Over50OutsmartingYourComfortZone.
In 2001, my industry collapsed. Since then, I have had two Nexts. Transition, as the cliché goes, is the new normal.
Contact Jane Genova email@example.com.