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Deutsche Bank Reportedly Considers To Cut Up To 20,000 Jobs

Deutsche Bank AG (DB) is considering to cut up to 20,000 jobs or more than one in six full-time positions globally, the Wall Street Journal reported citing people familiar with the matter.

The layoffs would probably take place over more than a year and would spread across regions and businesses, the Journal reported.

The cuts being contemplated by senior executives reflect an acceleration of Deutsche Bank's downsizing and another major pullback from its global ambitions. If followed through, the reduction would represent 16% to 22% of Deutsche Bank's workforce of 91,463 employees, the report said.

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