Bloomberg - Deutsche Bank said cutting dozens of employees in Chicago

Deutsche Bank - Foyer Bridge

Deutsche Bank is cutting dozens of employees and consolidating space at its Chicago office as part of a broader plan to shrink its U.S. operations, according to people briefed on the matter.

Bloomberg News reports that the bank’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 the bank’s location in Jacksonville, Florida, the people said.

Troy Gravitt, a spokesman for the bank, declined to comment on the firm’s plans for the office. Operations functions hosted there include those for listed derivatives and supporting trading at the Chicago Mercantile Exchange and Chicago Board of Trade.

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank Is Cutting Staff in Chicago in U.S. Retreat

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