Reuters sources - Deutsche Bank set to cut 25% of workforce

Axe In Wood

23,000 jobs!

Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources told Reuters on Monday.

The news agency reports that would bring the group's workforce down to around 75,000 full-time positions under a reorganization being finalised by new CEO John Cryan, who took control of the bank in July with the promise to cut costs.

Cryan presented preliminary details of the plan to members of the supervisory board at the weekend. A spokesman for the bank declined comment.

To access the complete Reuters article hit the link below:

Deutsche Bank to cut workforce by a quarter - sources

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