Deutsche Bank is performing a Reorganization, 18,000 jobs will Disappear Until 2022. Deutsche Bank is implementing a significant reorganisation.
Until 2022, eighteen thousand jobs at the bank will disappear from Germany, reducing the workforce to 74,000.
A total of more than 91,000 people now work at Deutsche Bank.
The bank requires to make a loss of 2.5 billion pounds in the second quarter of this year.
Deutsche Bank will also stop its activities on the foreign stock market.
Deutsche Bank has been struggling for ages.
The bank’s share has been in free fall since August and fell by almost 40 percent.
As a result, earnings expectations were adjusted downwards.
Stephan Szukalski, a board member at Deutsche Bank, that the reorganisation means a “new beginning” for the bank.
Despite the measures taken, the current financial director, James Von Moltke, retains his position.
In addition to poor financial results, Germany’s largest bank is also involved in a money-laundering business with the Danske Bank from Denmark.
Also, reported in December that Deutsche Bank would have processed more than 134 billion pounds in suspicious money from the Estonian subsidiary of Danske Bank.