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Deutsche Bank to Cut More Jobs
World Economy

Deutsche Bank to Cut More Jobs

Deutsche Bank has announced that 1,000 jobs will be cut in Germany, BBC reported. The move adds to the 3,000 job losses announced in June. Almost half of the latest job cuts will hit the company’s chief operating office, with the rest spread over several departments. Deutsche Bank has been under intense pressure since mid-September, when US authorities said they wanted the firm to pay $14 billion to settle an investigation into mortgage-backed securities. Since then, the company has been trying to reassure investors and staff that its finances are strong enough to handle such a large fine. To boost its finances, it has been selling assets and has promised cost cuts.

 

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