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Deutsche Bank to Slash Thousands of Jobs to Control Costs

Germany’s struggling Deutsche Bank is slashing thousands of jobs as it reshapes its stocks trading operation and refocuses its global investment banking business on its European base. The bank said Thursday it would cut its workforce from 97,000 to “well below” 90,000 and that the reductions were underway. It said headcount in the stocks trading business, mostly based in New York and London, would be reduced by about 25 percent. Those cuts will cost the bank about 800 million euros...

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