6/28, 3:57 PM (Source: TeleTrader)
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Deutsche mulls up to 20,000 job cuts - report

Deutsche Bank AG is considering removing between 15,000 and 20,000 jobs in a move that could potentially hit a sixth of its full-time positions worldwide, the Wall Street Journal reported on Friday, citing a source with knowledge on the matter. According to the company's documents dating March of this year, it employs 91,463 people globally.

According to the report, Deutsche Bank will likely take a longer period of time to execute the plan, even over a year. Also, the job cuts are set to affect all regions and businesses, but the hardest consequences are expected to hit Deutsche's United States operations and investment banking.

Deutsche Bank shares jumped 3.52% at 3:56 pm CET.

Breaking the News / SS