That means wave of layoffs.
Although the plural form would be more accurate these days. It’s the latest big thing in Germany. Everybody’s doing it – or in the process of planning it (see German automobile industry).
Take the Deutsche Bank, for instance. Give me 18,000 employees to go. The times they are a changin’.
Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany’s biggest bank.
The investment bank is expected to be particularly hard hit, with many of the cuts set to affect London and New York.
“I can assure you: we’re prepared to make tough cutbacks.”