Deutsche Bank to Cut 7,000 Jobs [The New York Times]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: The New York Times
Image “We remain committed to our corporate and investment bank and our international presence — we are unwavering in that,” Christian Sewing, the chief executive of Deutsche Bank, said Thursday in a statement. But, he added, “we must concentrate on what we truly do well.” Credit Susann Prautsch/DPA, via Agence France-Presse — Getty Images By Prashant S. Rao May 24, 2018 LONDON — Deutsche Bank, Germany’s biggest lender, said on Thursday that it would cut 7,000 jobs and “significantly reshape” its sales and trading business, the latest sign of the bank’s curtailed ambition as it seeks to move past a series of crises. The job losses — equivalent to 7 percent of its work force — come a month after Christian Sewing took over as chief executive , the fourth person in four years to hold the title, or that of co-chief executive, at the bank. Mr. Sewing has already said the bank will focus on Europe and shrink its operations in the United States and Asia, eff
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