Deutsche Bank to cut 3,500 jobs
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#6J9VT)
German bank becomes latest global lender to target staff in post-pandemic cost reductions
Deutsche Bank is to cut 3,500 jobs, making it the latest global lender to target employees as part of post-pandemic cost reductions, amid a drop in profits.
The German bank said that while it had made progress on a 2.5bn (2.1bn) cost-cutting programme that it first announced in 2022, it still needed to save 1.6bn of that total, meaning thousands of staff had to go.
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