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FT: Deutsche Bank Restructuring Delayed By Pandemic

As per an article published in the Financial Times, Deutsche Bank AG (DB) Chief Financial Officer James von Moltke stated that the company remains on track to meet its financial targets for fiscal 2020. However, he noted that the crisis created by the pandemic has resulted in some delay to its planned restructuring.

In July 2019, Deutsche Bank announced restructuring actions resulting in a workforce reduction of approximately 18,000 full-time equivalent employees to around 74,000 employees by 2022. Deutsche Bank's CFO continues to believe that the bank would meet its target by the end of 2022.

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