Deutsche Bank Cuts 7,000 Jobs, 7.2% of Global Headcount
Deutsche Bank has announced a reduction of more than 7,000 jobs or 7.2% of global headcount, reducing Germany’s leading bank and world’s leading bank headcount from 97,000 to below 90,000. In its Equities Sales & Trading business, about 25% of headcount will be reduced.
” Deutsche Bank Cuts 7,000 Jobs, 7.2% of Global Headcount “
The restructuring will allow the German bank to accelerate the pace of cost reduction across the bank, and a decrease in leverage exposure in the Corporate & Investment Bank. At the end of Q1 2018, the corporate & investment bank have exposure of over €100 billion, or approximately 10% of Deutsche bank €1,050 billion of leverage exposure.
Source: Deutsche Bank, Reuters, Bloomberg
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