Deutsche Bank on Thursday said it would reduce its workforce by some 9,000 full-time jobs by 2020 and close operations in 10 countries.
About 6,000 external contractor positions will also be scrapped by 2020. In addition, the bank plans to dispose of assets with a total cost base of approximately 4 billion euros and 20,000 jobs over the next 24 months. Those assets include its Postbank retail bank. It also plans to modernize its outdated and fragmented technology and withdraw from higher-risk locations