TRUMPS Favorite Lender Deutsche Bank will exit glo
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Posted On: 07/07/2019 7:03:30 PM
TRUMPS Favorite Lender Deutsche Bank will exit global equities business and slash 18,000 jobs in sweeping overhaul
@SPENCEKIMBALL
KEY POINTS:
Deutsche Bank announced Sunday that it will pull out of its global equities sales and trading business as part of a sweeping restructuring plan to improve profitability.
The bank will also slash 18,000 jobs for a global headcount of around 74,000 employees by 2022. The bank aims to reduce costs by 6 billion euros.
Deutsche expects its restructuring plan to cost 7.4 billion euros by the end of 2022.
The German bank also expects to report a net loss of 2.8 billion euros in the second quarter of 2019. It will release its second quarter results on July 25.
https://www.cnbc.com/2019/07/07/deutsche-bank...-bank.html
More bankrupt business for Donald!
@SPENCEKIMBALL
KEY POINTS:
Deutsche Bank announced Sunday that it will pull out of its global equities sales and trading business as part of a sweeping restructuring plan to improve profitability.
The bank will also slash 18,000 jobs for a global headcount of around 74,000 employees by 2022. The bank aims to reduce costs by 6 billion euros.
Deutsche expects its restructuring plan to cost 7.4 billion euros by the end of 2022.
The German bank also expects to report a net loss of 2.8 billion euros in the second quarter of 2019. It will release its second quarter results on July 25.
https://www.cnbc.com/2019/07/07/deutsche-bank...-bank.html
More bankrupt business for Donald!
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