An honorable member of the Coffee Shop Has Just Posted the Following:
FRANKFURT (Reuters) - 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 said on Monday.
That would bring the group's workforce down to around 75,000 full-time positions under a reorganization being finalised by new Chief Executive John Cryan, who took control of Germany's biggest 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.
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A spokesman for the bank declined comment.
The bank is primarily reviewing cuts in the parts of its technology and so-called back office operations that process transactions and work orders for client-facing staff. A significant number of the some 20,000 positions in that area will be reviewed for possible cuts, a financial source said.
And so it begins....... Next will be citi, scb, etc??
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14-09-2015, 10:50 PM
Deutsche Bank to cut 23k jobs or 1/4 of total staff
