Deutsche Bank to exit 10 countries, axe 15,000 jobs

DB has reported a record net loss of 6 billion euros in the third quarter of 2015, which Co-Chief Executive Officer John Cryan called “a highly disappointing result", saying it was largely driven by items the bank had already flagged earlier in October.

The bank said today it will terminate the contract of 9,000 full-time employees and 6,000 contract workers, while exiting ten countries. DB would also sell the retail business of Postabank in Hungayr.

DB is to exit mostly South American and Scandinavian markets:

• Argentina,
• Chile,
• Mexico,
• Uruguay,
• Peru ,
• Denmark
• Finland,
• Norway,
• Malta,
• New Zealand.

Deutsche Bank kicked off today’s trading session close it is Wednesday close and a few minutes after opening it was up by more than 1%. The wind has changed since then and now DB is down 1%.

• Tags:
• Deutsche Bank,
• companies,
• exit,
• equity