Indeed, it's fascinating to watch. Reputation matters for a bank and they are in the process of completely destroying it.
Quite frankly I doubt it's possible to recover from that without removing the founders (currently acting as CEO and CFO) from the company.
Does this ever end well for the company? These moves should make it extremely clear to the employees how much they need a works council.
I don't know about Germany. But using every dirty tactic in the book seems to have worked well for Walmart in the US.
It’s interesting you mention Walmart. Walmart has failed spectacularly in trying to enter the German market. Their treatment of employees probably was a factor but probably not the most important one though.