Deutsche Bank will close its global equity firm and scale the investment bank

Deutsche Bank's headquarters

Photo by Hannelore Foerster

On Sunday, Deutsche Bank announced that it will withdraw its global shares from sales and trading as part of a comprehensive restructuring plan to improve profitability.

By 2022, Deutsche will release 18,000 jobs for a global number of employees of around 74,000 employees. The Bank's goal is to reduce costs by EUR 6 billion to EUR 17 billion over the coming years.

All told that Deutsche expects the restructuring plan to cost 7.4 billion euros by the end of 2022.

The German bank also expects to report a net loss of 2.8 billion in the second quarter of 201[ads1]9. It will release its second quarterly results July 25, 2019.

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