By: Will Martin
November 7, 2017
Deutsche Bank CEO John Cryan has hinted that the lender could cut thousands more jobs as it continues to adjust to expectations of substantially lower future revenues.
“We employ 97,000 people,” Cryan said in an interview with the Financial Times. “Most big peers have more like half that number.”
The bank is already in the process of cutting around 9,000 jobs globally, with 4,000 gone so far. The cuts are part of a plan announced by Cryan in late 2015, soon after he became CEO, and most of those job losses are the result of efficiencies created by using technology.