The German lender announced that an extra 1,000 jobs would be lost in its home nation as part of a restructuring plan. The additional 1000 jobs are in addition to the original plan to cut 3,000 employees. This brings the total number of role reductions in the country to around 4,000 which is part of 9,000 jobs being reduced worldwide to make the group "more competitive" as part of its new strategy.
"We are fully aware that today's decision is a difficult change with significant personal impact for many employees. We will ensure that any staff reductions are carried out in a socially responsible manner," - said Karl von Rohr, member of Deutsche Bank's Management Board. Shares of the bank climbed higher on the news and were trading up 0.5 percent.
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