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July 8, 2019 | Via The Guardian

Deutsche Bank Starts Cutting London Jobs with 18,000 at Risk Worldwide

Deutsche Bank has started cutting jobs in London as part of a plan to reduce its global workforce by 18,000 to try to revive its ailing fortunes. The jobs being cut makeup 20% of Deutsche’s global workforce and will hit its investment bank hard. The chief executive, Christian Sewing, promised “tough cutbacks” to the investment bank in May as part of €1bn (£880m) of cost reductions – the latest round in a series of cuts.

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