Deutsche Bank to cut 1,000 jobs
July 19 , 2012
Deutsche Bank aims to cut around 1,000 investment banking jobs.
The move is a shift in policy for Germany's flagship lender. In April, it said it saw no need for cuts at its investment bank, one of the main profit drivers.
A drop in trading activity recent months has forced investment banks including Credit Suisse, Goldman Sachs and UBS to cut staff.
Deutsche Bank's job losses come in addition to a cost-cutting program announced in October, which will see the bank axe around 500 positions in corporate banking and securities.