Deutsche Bank Said to Weigh Job Cuts on Top of Postbank Sale
- Reductions and the sale could shrink staff by almost 25%
- Firm may shut most or all of its investment bank in Russia
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Deutsche Bank AG may dispense with almost 25 percent of its global workforce, as co-Chief Executive Officer John Cryan looks to deliver on pledges to reduce costs and streamline operations.
The bank is considering cutting 8,000 jobs, in addition to those to be eliminated through the sale of one of its consumer bank units, and will make a final decision next month, according to a person with knowledge of the matter. Deutsche Bank announced plans in April to divest Bonn-based Deutsche Postbank AG, which employs about 15,000, through a trade sale or by issuing shares to the public.