Deutsche Bank to axe almost 2,000 jobs in Germany to cut costs
AFP, December, 2004
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FRANKFURT (AFP) — Deutsche Bank, Germany's biggest bank, said it planned to eliminate 1,920 jobs in Germany in the next two years, or seven percent of its German workforce, to cut costs.
The jobs to be axed are in administration, information technology services and back office operations, the bank said,
The announcement marked the first major step in the bank's new strategy to focus on its retail and business activities in Germany, which were neglected in recent years in favor of its prestigious investment bank in London.
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