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Deutsche Bank lays off 18,000, slashing operation in NYC, London

Deutsche Bank is cutting 1/5 of its workforce and slashing operations in New York City and London in a move aimed to restore profitability for the bank. About 18,000 jobs are expected to be eliminated. Yahoo Finance's Oscar Williams-Grut reports. He joins Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Sozzi and Direxion's Dave Mazza.