Deutsche Bank to Cut 1,900 Jobs as Part of Savings Plan
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Deutsche Bank AG said it will eliminate 1,900 jobs by the end of the year, including 1,500 at the investment bank and support areas, as part of an effort to save 3 billion euros ($3.68 billion).
Germany’s biggest lender, which employed 10,079 at the investment bank at the end of June, said most of the positions slated for removal at the unit will be outside Germany. The Frankfurt-based lender forecast “substantial costs” to achieve the savings without giving an exact figure in a statement to the stock exchange today.