One of the worst performing banking stocks in 2018 so far has been Deutsche Bank. Its shares have cratered from around $20 to about $16.
More bad news may be coming for the financial institution.
Deutsche Bank will be slashing at least 250 investment banking jobs in various cities, including some of its biggest markets in London and the United States, Reuters is reporting. This number could spike to as many as 500 jobs.
This comes after the bank is reportedly reducing mid-level and senior investment banking jobs.
In recent months, the company has launched its initiative of cutting 9,000 jobs from its 2015 levels, and Germany will represent more than half of the job cuts with 5,000.
At the end of 2017, Deutsche bank had more than 17,000 full-time employees.
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