Deutsche Bank’s new management unveiled plans to cut 1,900 jobs, including 1,500 in investment banking, to help deliver €3bn in cost savings and reflect a much tougher market environment.
The job cuts will mainly occur outside Germany and will account for €350m of the €3bn savings target. Other savings are to come through changes to the business model, scaling back activities in some countries, improving operating performance and savings related to the integration of Postbank.
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