Tags: deutsche bank | job | cuts | rates

Deutsche Bank Plans Job Cuts of at Least 10% in Rates Unit: Bloomberg

Deutsche Bank Plans Job Cuts of at Least 10% in Rates Unit: Bloomberg
(Tomnex/Dreamstime)

Monday, 21 October 2019 11:41 AM

Deutsche Bank AG said it is considering substantial cuts to the unit that trades interest-rate securities, a division that survived a large-scale pullback as part of the lender’s sweeping revamp in July, Bloomberg reported on Monday.

The bank will likely cut a low double-digit percentage of jobs at the business, which employs several hundred staff, Bloomberg said, adding no final decision had been made.

The bank is putting the finishing touches to a review of the unit, which has struggled with low profitability for some time, Bloomberg reported, citing people briefed on the matter.

In a statement, Deutsche Bank said: “We are committed to a robust and broad-based rates platform and are investing in areas of our rates business where we see opportunities to grow our client franchise.”

© 2019 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Companies
Deutsche Bank Plans Job Cuts of at Least 10% in Rates Unit: Bloomberg
deutsche bank, job, cuts, rates
128
2019-41-21
Monday, 21 October 2019 11:41 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved