Deutsche Bank Initiates Layoffs in Cost-Cutting Effort

[kreslik.news]

Deutsche Bank has begun a job cut, which is expected to reach at least 250 of its employees around the world. Indications are that the layoffs could reach and even exceed a total of 500 people, including some located in London and New York.

Deutsche Bank’s decision to conduct the layoffs is part of a cost-cutting effort, initiated by the bank’s Chief Financial Officer James von Moltke, who has urged the bank to exercise proper money and cost management practices, following the abandonment of last year’s targets.

One of the units taking the brunt of the cutbacks is the bank’s investment banking ... (read more)