Deutsche Bank to Cut 35,000 Jobs Under New Strategy

October 29, 2015 9:22 AM

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Deutsche Bank to Cut 35,000 Jobs Under New Strategy

LONDON — Deutsche Bank said Thursday that it would slash as many as 35,000 jobs over the next two years through internal cuts and sale of businesses, as the new co-chief executive, John Cryan, unveiled plans to simplify and overhaul the lender.

The strategy update came as the German bank, which has a big presence on Wall Street, reported that it had lost 6.02 billion euros, or about $6.6 billion, in the third quarter.

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