Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Deutsche Bank to Cut Thousands of Staff in Investment Bank Revamp

The reductions will decrease the investment bank’s leverage exposure by 100 billion euros, or 10 percent, with most of the cuts to take place this year, Deutsche said.

Reuters

Updated:May 24, 2018, 11:32 AM IST
facebookTwitterskypewhatsapp
Deutsche Bank to Cut Thousands of Staff in Investment Bank Revamp
Representative image (Reuters)
Loading...

Frankfurt: Deutsche Bank will shrink global staff to well below 90,000 from the current 97,000, as part of a broad restructuring move to reduce costs and restore profitability, it said on Thursday.

The bank said that it would cut headcount by 25 percent in its equities sales and trading business following a review of the business.

The reductions will decrease the investment bank’s leverage exposure by 100 billion euros, or 10 percent, with most of the cuts to take place this year, Deutsche said.

“We remain committed to our Corporate & Investment Bank and our international presence – we are unwavering in that,” Chief Executive Officer Christian Sewing said in a statement.

“We are Europe’s alternative in the international financing and capital markets business. However, we must concentrate on what we truly do well.”

The details on the bank’s strategy come ahead of the bank’s annual general meeting on Thursday.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,214.35 -0.92
BPCL 384.70 -5.84
Yes Bank 67.65 -1.31
Maruti Suzuki 6,482.90 0.51
HDFC 2,053.15 -1.47
Company Price Change %Gain
Biocon 233.10 0.24
Kotak Mahindra 1,486.00 0.17
Cholamandalam 274.95 0.11
Yes Bank 67.65 -1.38
Reliance 1,214.30 -0.92
Top Gainers
Company Price Change %Gain
Titan Company 1,143.80 1.82
GAIL 131.15 1.47
Grasim 723.00 0.76
Sun Pharma 426.40 0.84
Tech Mahindra 715.75 0.88
Company Price Change %Gain
ONGC 129.85 0.82
HUL 1,819.50 0.81
Sun Pharma 426.25 0.71
Bharti Airtel 345.00 0.66
TCS 2,152.05 0.50
Top Losers
Company Price Change %Gain
BPCL 384.55 -5.87
IOC 126.70 -2.61
Asian Paints 1,513.30 -2.25
Bharti Infratel 250.05 -1.71
HDFC 2,053.15 -1.47
Company Price Change %Gain
Asian Paints 1,512.30 -2.30
HDFC 2,053.75 -1.53
Yes Bank 67.65 -1.38
SBI 288.30 -1.17
Larsen 1,350.60 -0.94

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results