Deutsche Bank to Cut 3,500 Jobs
Deutsche Bank (DBK) to Cut 3,500 Jobs; Lifts Revenue, Payout Targets
Deutsche Bank AG plans to cut 3,500 jobs over the coming years as Chief Executive Officer Christian Sewing seeks to make good on a pledge to lift profitability and return more money to shareholders.The reductions, most of them back-office roles, are part of cost savings that the Frankfurt-based bank had previously announced. The lender detailed the cuts on Thursday as it raised its mid-term revenue target and said it will return €1.6 billion to investors in the first half of this year, including through a €675 million share buyback.