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Deutsche Bank to shed 26,000 jobs, exit markets

It will also move trading businesses, reduce number of investment banking clients
Friday, October 30, 2015 - 05:50
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Germany's biggest lender posted a loss of six billion euros for the third quarter as stricter capital requirements reduced the value of its investment bank and the firm set aside more money for legal costs.

Frankfurt

DEUTSCHE Bank AG has said it will shrink the workforce by about 26,000 people by 2018 as co-chief executive officer John Cryan seeks to improve returns. Its shares fell.

The lender will cut about 9,000 jobs on a net basis, almost 10 per cent of staff it expects to have at

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