Deutsche Bank Plans to Cut Up to Half of Global Equity Jobs
- German lender is said to plan global cuts as from early July
- Equities cuts expected to be part of broader job dismissals
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Deutsche Bank AG is preparing to start eliminating hundreds of jobs in its global equity division, the first major cuts in a broader restructuring after the collapse of merger talks with rival Commerzbank AG.
The German lender is finalizing a plan to cut jobs in equities trading and research, as well as in derivatives trading, the people said, asking not to be identified as the matter is private. The bank will likely start informing staff -- including in the U.S. and Asia -- as early as next week, they said.