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Deutsche Bank Is Considering Increasing Job Cuts to 10,000

Steven Arons
Deutsche Bank Is Considering Increasing Job Cuts to 10,000

Deutsche Bank AG is considering 10,000 job cuts and retreating from equities markets across the world as part of a sweeping overhaul by Chief Executive Officer Christian Sewing, people familiar with the matter said. Under Sewing’s predecessor, John Cryan, the bank had a previous target of 9,000 cuts by 2020, though the Frankfurt-based lender may have made less than a third of those cuts. The future of the investment bank had been a key factor in the tumultuous management shakeup that saw him take over from Cryan last month.