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Layoffs Watch '15: Deutsche Bank, Maybe

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The Germans are currently mulling over the idea of asking a number of employees to mosey on out of the building and not come back.

Deutsche Bank AG is weighing options such as job cuts and the sale of assets, including its Postbank consumer-lending unit, as Germany’s biggest bank reviews its strategy, a person with knowledge of the matter said. Anshu Jain and Juergen Fitschen, Deutsche Bank’s co-chief executive officers, yesterday gave a dim assessment of the revenue outlook and pledged to update their strategy by the end of June. No decisions have been made on what steps will be taken, said the person, who asked not to be identified before the review is completed. Jain and Fitschen told investors when they took charge in 2012 that sticking with trading businesses would pay off this year as competitors retrenched. Deutsche Bank shares fell 33 percent in the past 12 months, the biggest decline among top global investment banks, as trading revenue decreased and litigation costs soared.

Deutsche Bank Said to Weigh Job Cuts, Asset Sales [Bloomberg]


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