Deutsche Bank Plans To Fire Almost 20,000 Employees

The beleaguered European investment bank, Deutsche Bank plans to fire almost 20,000 employees from its equity sales and trading businesses in order to increase its profitability reported on 7 July 2019.

According to the Bank, A newly created unit named Capital Release Unit will handle the trading businesses of the Deutsche Bank and there will be a total of 7.4 billion euros of restructuring charges until 2022. 

Deutsche Bank AG reported that bank will suffer from a net loss of $3.1 billion in Q2 due to the lender exit its equities business of sales and trading

“Today we have announced the most fundamental transformation of Deutsche Bank in decades, We are tackling what is necessary to unleash our true potential. ”

Chief Executive Officer, Christian Sewing 

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