Deutsche Bank is to shed 500 jobs in the City of London
after a 34 per cent rise in operating costs last year.
The cuts are part of a global streamlining that will cut
Deutsche’s workforce of 90,000 by 2,600.
The job losses at Deutsche Bank’s London offices are
expected to fall on the back-office and administration divisions and come just
days after ING Barings announced 500 redundancies in the City.
The remainder of the job losses include 1,400 in Germany,
600 in New York and 100 in Asia.
By Ben Willmott