Deutsche Bank job cuts to hit Germany, London

Tuesday, 08. October 2019 12:47

The Deutsche Bank announced half of the 18,000 projected job cuts will be done in Germany to lower the retail costs, company's CEO Christian Sewing confirmed on Tuesday. By cutting 9,000 jobs in its main market, the lender is about to lose 20% of its workforce in Europe's largest economy.

London employees are expected to be hit hard by cost-reducing measures as well due to Brexit while cuts in the United States will be much smaller.

At the end of the last year, Deutsche Bank had 41,700 staff members in Germany only, almost half of its total worldwide working force (91,700).

Related Links: Deutsche Bank AG
Breaking the News / GA