Deutsche Bank Said Planning 1,000 London Job Cuts: Sunday Times

Deutsche Bank AG plans to cut 1,000 jobs in London next year, The Sunday Times reports, citing people it didn’t identify.

The cuts are part of an overhaul announced Oct. 29, the newspaper said. The bank plans to shrink its workforce by 9,000 people by 2018 and eliminate some 17,000 other positions by measures including closing operations around the world. Co-Chief Executive Officer John Cryan’s strategy includes shrinking the investment bank, which has a large presence in London.

A company spokesman declined to comment on the report when contacted by Bloomberg News.

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