May Day

May Day

Theresa May launched a multi-billion pound spending spree

Read more
Trained to be a Duchess

Trained to be a Duchess

Meghan Markle Was 'Trained to Be Personable' Before She Became a Duchess

Read more
A New Man Utd Deal?

A New Man Utd Deal?

Manchester United are likely to revive their £100million move for Dortmund star Jadon Sancho

Read more
Homepage / Business / Deutsche Bank crisis: 9,000 jobs to go in Germany and 9,000 across globe
How Man City should line up vs Atalanta in the Champions League UK’s fastest home broadband with speeds of 1,104Mbps now in Manchester Man Utd news LIVE: Ed Woodward confident of completing £60m deal, new contract talks open Transfer news LIVE: £60m Maddison to Man Utd, Liverpool deal, Chelsea ‘agreement close’ Steph McGovern leaves BBC Breakfast for own Channel 4 entertainment show Prince William reveals his ‘disastrous’ mishap in the kitchen to a celebrity chef Queen Elizabeth II’s unexpected reaction to bizarre gift: ‘It’s what I’ve always wanted!’ Revealed: Why Meghan Markle’s Diana-style TV interview is ‘problematic’ for Queen Queen and Prince Charles have ‘gone out of their way’ to help ‘struggling’ Meghan Markle Camilla’s fear will prevent her joining Prince Charles on Royal Tour in Japan Footballers’ Wives To Return As Stage Musical, Creator Confirms Billy Keane: ‘Sexton is heartbroken. Last night he sent the message: ‘Gutted. Tried my best” Fianna Fáil leader Martin will not demote Lisa Chambers over phantom votes controversy Scots mum gives birth after being told cancer treatment could leave her infertile Shah Rukh Khan asks for heels to match with his Karan Johar style ‘fashionista’ jacket! Nach Baliye 9, 20 October 2019 written updates: Helen gives a retro touch, Bhumi Pednekar drop by the sets British teen on school exchange trip dies in apartment plunge horror in Spain #13YearsofDon: Farhan Akhtar gives a shout out to Shah Rukh Khan, Priyanka Chopra and the ‘best cast’ Retirement and me: ‘Worst case scenario, I’ll sell my flat’ Woman reveals contingency plan Royal fury: How Prince William was dubbed ‘scallywag’ after going missing from Highgrove Man City news and transfers LIVE early team news for Crystal Palace fixture as Stones and De Bruyne set to return The Manchester United player who can decide Liverpool FC fixture Manchester United news and transfers LIVE De Gea and Pogba injury latest ahead of Liverpool FC fixture City trader to self-employed chef – man reveals future plans after retiring from City job Furious Melania Trump fans hit out comparing her to Meghan Markle on social media Meghan Markle receives outpouring of support after heartbreaking interview Kate Middleton opens her heart during rare interview on Pakistan visit Johnson ‘close’ to reaching numbers for historic deal Absent TD voted six times in Dáil Meghan Markle and Harry were ‘wrong’ to hide Archie away – ‘What have they got to hide?’ Ole Gunnar Solskjaer tells his Man Utd side to take more risks to beat Liverpool Real Madrid boss Zinedine Zidane lifts lid on meeting Man Utd star Paul Pogba in Dubai Bride and groom struck down with salmonella poisoning at their wedding Monster who had six kids with own daughter raped child he fathered with her Bigg Boss 13 Day 19 Twitter reactions: Fans praise Asim Riaz for his performance in the task Bigg Boss 13 Day 19 Live updates: Bigg Boss stop the task as no housemate is ready to give up Kundali Bhagya 18 October 2019 written update of full episode: Karan notices Preeta in Mahesh’s room Pound US Dollar exchange rate: GBP/USD rangebound ahead of fourth “meaningful vote” Pound euro exchange rate steady as Merkel says extension unavoidable if deal fails Pension UK: These divorcees face being £77,000 worse-off – what are you entitled to? Text scam warning: Worrying message could cost you £20 – have you had the suspicious text? Watch A Bunch Of Scientists Freak Out Over A ‘Whale Fall’ On The Bottom Of The Ocean Eurozone slump: Exports down, prices up – all indicators point to economic downturn Pound/Euro Exchange: GBP/EUR falls as Juncker proclaims “no need” for Article 50 extension Universal Credit – will amount rise? How much benefits could increase by in 2020 Ujda Chaman song Twinkle Twinkle song: Sunny Singh and Maanvi Gagroo’s song fails to impress Satellite Shankar trailer: Sooraj Pancholi is back with a patriotic drama that looks decent Violent scenes show angry commuters drag Extinction Rebellion protester from top of tube train onto platform Kasautii Zindagii Kay 2: Pooja Banerjee gets emotional on receiving a warm welcome post her injury Drug deaths in Scotland hit more than 550 over last six months State pension age rises next month – will you be affected by state pension age changes? Lidl to help shoppers buy more British produce as it invests £15bn in suppliers EU-UK deal pretty much done, awaits UK government approval – EU sources Pound US dollar exchange rate: GBP/USD rises on hopes for a Brexit extension Friend of alleged rape victim says she heard woman moaning and saying the word ‘harder’ during sex, court told Princess Eugenie reveals heartwarming nickname for mum Fergie in emotional Instagram post Princess Eugenie’s surprise confession as she admits what her favourite radio station is Man Utd plan to explore transfers for five players in January but know they could fail Man Utd suffer David De Gea injury blow just days before Liverpool Premier League clash Kate Middleton caught in embarrassing royal faux pas on first day of Pakistan tour – VIDEO Prince Harry breaks down into tears mid-speech as he recalls Meghan Markle pregnancy news Kate Middleton snub: William under fire for ‘gentleman’ protocol breach with rickshaw ride Manchester United news and transfers RECAP David de Gea injured for Spain and Paul Pogba injury news Edwin van der Sar reveals he could have joined Liverpool FC before signing for Manchester United Man City news and transfers RECAP Sterling latest plus De Bruyne, Aguero and Stones injury update Coinbase chief blasts US Senate over Libra letters Nicola Sturgeon to demand second Scottish independence referendum next year Housefull 4: Akshay Kumar, Bobby Deol caught sleeping on the sets in this BTS video Local shop is trashed in ‘ram raid’ robbery attempt Guddan Tumse Na Ho Payega 15 October 2019 Written Update of full episode: Guddan to change her name to Antara for Alisha Thor: Love and Thunder director makes a huge revelation about Natalie Portman’s character Brexit alert: No deal could spark global financial crisis, warn economic experts How much is the new state pension? What is required to get the full amount Pound US Dollar exchange rate: Brexit sees pairing slump more than 1 percent ‘We feel that’s pretty strange’ – Johnny Sexton hits out at ‘negativity’ around Ireland’s World Cup campaign Taoiseach told snap election must follow a deal on Brexit SNP has taken significant step in tackling Scotland’s horrendous drug-death toll Toofan: Farhan Akhtar suffers a ‘hairline fracture’ while shooting for the film – view pic Islamic State supporters escape Kurdish camp in Syria as Turkish forces advance Dolittle Trailer: The Robert Downey Jr starrer looks like a joyride for kids and adults alike Housefull 4 star Pooja Hedge takes a day off on her birthday to spend time with her closed ones Retirement and me: Man reveals struggle as he explains ‘I’ve no intention of retirement’ Huge emergency services response after man was stabbed in Piccadilly Gardens State pension age change: Hope for 50s women as tens of thousands raised to fight scandal Princess Margaret: Unearthed letter reveals Peter Townsend split not all as it seemed Royal shock: The huge role Prince Louis will take on next year revealed – ‘He’s ready’ Meghan Markle book ‘in the offing’ as feared biographer reveals new plans Man Utd fans all say the same thing after last-minute Kepa horror show against Norway Man Utd reach verbal agreement with Mario Mandzukic as Juventus make demand – EXCLUSIVE The Chase star Jenny Ryan stuns with her big voice on Celebrity X Factor Doggy friends of stolen Boston Terrier Ralph join campaign to ‘bring him home’ Prince William reveals secret passion he inherited from Charles – ‘It’s deep in my heart’ Sonu Ke Titu Ki Sweety actors Kartik Aaryan and Sunny Singh reunite for Pati Patni Aur Woh Gel Manicures Look Good, But What’s The Damage To Your Nails? Bigg Boss 13: Who is the biggest player between Devoleena and Paras? Vote now! Kumkum Bhagya 12 October 2019 Preview: Abhi determines to put Rishi behind bars Prince William surprises England fans by watching Czech Republic football game in pub Scots rugby fans slam chiefs after Japan matches cancelled due to typhoon season Scot travels 540 miles to save lamb she ‘regretted selling for slaughter’ Rúaidhrí O’Connor: ‘Joe Schmidt’s legacy is on the line – Ireland owe it to themselves to win well’

Business

Deutsche Bank crisis: 9,000 jobs to go in Germany and 9,000 across globe

The crisis-hit lender employs about 41,700 staff in Germany out of a global headcount of 91,700. The sources said London would also be hit especially hard but the US may see a lower share of front-office cuts once the bank has exited its equities trading business. 

CEO Christian Sewing unveiled bank’s most radical restructuring in recent history in July with massive staff reductions a key part of his plan.

The number if redundancies in Germany will come as a shock as Mr Sewing previously indicated the country would see only its “fair share” of cuts.

The latest news also comes as an economic slowdown takes hold of Europe’s largest economy and the risk of a recession increases.

READ MORE: Deutsche panic: Economist warns of massive global economic downturn

Deutsche Bank

Deutsche Bank HQ (Image: GETTY)

Deutsche Bank CEO Christian Sewing

Deutsche Bank CEO Christian Sewing (Image: GETTY)

And while Deutsche Bank has yet to detail the cuts to its retail bank it is clear they will also be large-scale.

A spokesman for the bank said: “We do not communicate details of the planned job cuts on a regional or divisional level.

“We are communicating directly with our works council and our employees regarding their jobs and options available to them.”

DON’T MISS
Deutsche Bank CRISIS: Shares fall 5% as thousands of staff axed[FOCUS]
‘Uninvestable’ Deutsche Bank overhaul could spell more trouble[ANALYSIS]
Eurozone WARNING: EU finance chiefs ‘don’t know what they’re doing’ [OPINION]

Deutsche Bank is one of a number of large lenders to announce major jobs cuts with HSBC shedding up to 10,000 roles by selling off its retail operations in France.

Between them, European lenders have officially announced plans for more than 50,000 job cuts in the past 12 months, according to industry analysts.

Pervious rounds of redundancies at Deutsche Bank have usually featured the sales of entire units such as retail operations in Poland and Portugal but the latest plan does not include any sell-offs.

Mr Sewing has said most of the planned cuts will happen by the end of 2021.

And as well as job cuts, the bank also announced plans to shut its lossmaking equities trading business and slash its bond and rates trading operations.

Deutsche has been dogged by declining revenue, soaring costs and misconduct scandals in recent years, having failed to recover from the 2008 financial crisis.

Post a Comment