The lender is relying on savings at retail units to lower its annual costs. It employs 41,700 people in Germany, out of a total of 91,700.
Deutsche Bank announced that it would be cutting 18,000 jobs in July, a key part of a new restructuring plan which has also seen the bank create a new technology division overseeing data, security and innovation.
According to the Bloomberg sources, it is becoming “increasingly clear” that cuts to the retail division at the bank will be on a large scale. Frank Strauss, former head of the business, left when the restructuring was announced.
