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Monday, 08 July 2019 10:56

DEUTSCHE BANK TO CUT 20% OF ITS STAFF

Deutsche Bank could slash up to 20,000 jobs by 2022, a fifth of its workforce. CFO James von Moltke has called the move a “final restructuring”. He aims to reduce adjusted costs by a quarter to €17b, but is likely to post a net loss of €2.8b in the second quarter of 2019. He also announced it will pull out of global equities sales and trading operations, and scale back investment banking two days after investment banking chief Garth Ritchie resigned.

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