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Deutsche Bank Weighs Cutting U.S. Staff by About 20%

Sonali Basak, Steven Arons
Deutsche Bank Weighs Cutting U.S. Staff by About 20%

Christian Sewing’s restructuring plans at Deutsche Bank AG are slowly taking shape. The bank is considering a sweeping restructuring of its U.S. business that could result in the firm cutting about 20 percent of its staff in the region, according to people familiar with the matter. Sewing -- who replaced John Cryan in April -- is under pressure to provide details of the investment bank restructuring by the annual shareholder meeting on May 24, after outlining broad strokes of the plan two weeks ago.