Deutsche Bank AG is cutting dozens of employees and consolidating space at its Chicago office as part of a broader plan to shrink U.S. operations, according to people briefed on the matter.
The German lender’s Chicago office -- which houses units including front-office trading, operations and treasury -- will be reducing headcount, said the people, who asked not to be identified discussing personnel matters. Some operations staff are being offered the choice of losing their jobs or relocating to Jacksonville, Florida, the people said.
