Deutsche Bank Says Job Cuts Will Continue
- Global markets said to make reductions as soon as this week
- In parts of IB, as many as 20% of staff may be affected
Deutsche Bank Scraps Most Senior Banker Bonuses
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Deutsche Bank AG told some employees on Wednesday that job cuts will continue even after Germany’s largest lender slashed bonuses for senior staff, according to a person with knowledge of the discussions.
In some parts of the investment bank, managers have been asked to identify the bottom 20 percent of performers in preparation for possible cuts, said another person, who like the first asked not to be identified because the information is private. The global markets business is making front-office cuts this week and next, according to a third person, who was informed of the reductions on Wednesday.