Deutsche Bank Chief Says More Job Cuts Coming
- Headcount has increased despite 800 cuts announce in April
- CEO Sewing expects the workforce should shrink from here
Christian Sewing
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Deutsche Bank AG is starting another round of job cuts as Chief Executive Officer Christian Sewing doubles down on efforts to lower expenses and lift profitability.
The new measures are expected to exceed a previous round of cuts unveiled six months ago, when Sewing announced that 800 senior roles would be eliminated, he told analysts on Wednesday. The German lender’s headcount has grown by more than 4,000 this year, despite the April announcement.