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Deutsche Bank set to spare traders as it prepares more job cuts

February 2, 2023


Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit.

Meeting expense targets in an inflationary environment will require a redoubling of savings efforts, including job cuts, Chief Executive Christian Sewing said at an earnings press conference on Thursday. He singled out the lender’s consumer banking activities in Germany as one area where cuts would take place.

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