Deutsche Bank plans to cut jobs and cease operations in 10 countries. The bank also intends to reduce costs to the minimum and ‘simplify’ the business, as it is said in the report of financial institution, the Ministry of Finance reports.
In five years the number of bank employees may decrease to 15,000.
The company plans to reduce costs and simplify the structure of institution through: closure of offices in 10 countries: Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta and New Zealand; reduction of the number of clients on global market by 50%; downsizing of 9 ths. of corporate employees and 6 ths employees of Global Technology & Operations; modernization of obsolete IT architecture.
