Deutsche Bank cut 18,000 Jobs

Berlin — The radical and painful restructuring of Germany’s Deutsche Bank, which is cutting 18,000 jobs, is the end of a long, failed attempt to compete with the global investment banking giants that left it overextended.

The bank plan unveiled Sunday aims to go “back to our roots” by refocusing on traditional strengths like serving corporate customers and wealthy individuals and cutting down on its stock-trading business and fixed-income investments. Investors gave a wary response on Monday, however, pushing shares down 5% at 6.82 euros ($7.68) in Frankfurt.

Sauce: https://www.detroitnews.com/story/business/2019/07/08/deutsche-bank-cuts-mark-end-failed-bid-global-scale/39666065/