Bye to the bank beancounters

ROBOTS will replace hundreds of Deutsche Bank staff whose work could be better done by machines, boss John Cryan has said.

The struggling German lender is desperate to cut costs following years of sluggish growth and negative interest rates.

Cryan, 56, believes technology could help his turnaround push.

Speaking in Frankfurt, he said a large number of workers would be laid off in coming years, including accountants who he dismissively said ‘spend a lot of time basically being an abacus’.

He said: ‘Tomorrow we’re going to have robots behaving like people.’ The plans are likely to further hit battered morale at the bank.