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With its finances in disarray, Deutsche Bank could lay off 20,000 staff

The German bank's executives are putting the finishing touches on a painful restructuring plan that they hope will halt the company's yearslong downward spiral

Deutsche Bank Photo: Reuters
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Photo: Reuters

David Enrich & Kate Kelly | NYT
Next year is Deutsche Bank’s 150th birthday. What might have been a celebration is shaping up to be more of a wake.
 
With its finances and strategy in disarray and 95 per cent of its market value erased, the German bank’s executives are putting the finishing touches on a painful restructuring plan that they hope will halt the company’s yearslong downward spiral.
 
The plan, which could be announced next week, calls for the potential elimination of up to 20,000 jobs worldwide and largely shutting entire divisions of the company’s ailing Wall Street operations, according to people briefed on

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First Published: Jun 29 2019 | 8:46 PM IST

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