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Sewing Says Deutsche Bank Staff to Learn Their Fates by July

  • CEO Sewing talks up speed of cost-cutting actions in NY speech
  • Determined to cut money spent on IT vendors, real estate
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Deutsche Bank’s 7,000 Job Cuts: Too Little, Too Late?

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If you’re at Deutsche Bank AG and haven’t already been fired, you’re likely to find out next month if you will.

The bank will have completed the “vast majority” of front-office job cuts by the end of June, Chief Executive Officer Christian Sewing said Tuesday at a conference in New York, adding that 600 staff have already left the Corporate and Investment Bank division since the beginning of the year.