Deutsche Bank is to exit 10 countries and cut 9,000 jobs as part of a sweeping strategic overhaul designed to help restore the Germany’s lender’s profitability.
In addition to the cuts in its own staff, Deutsche also aims to cut the army of consultants advising the bank by 6,000. Through selling its Postbank subsidiary, Deutsche will shed another 15,000 staff.
Unveiling the final details of its keenly awaited strategic review, John Cryan, Deutsche’s new co-chief executive, said he wanted to lead the bank in a “more disciplined and focused way”.
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