Bank­ing on big job cut

Weekend Gold Coast Bulletin - - NEWS -

ONE of the bosses of Deutsche Bank has warned he could slash nearly 50,000 jobs in a bat­tle to get the troubled Ger­man lender back on track.

The bank’s UK boss John Cryan said that his firm em­ploys 97,000 peo­ple – adding that “most big peers have more like half that num­ber”.

Deutsche was once the world’s big­gest in­vest­ment bank but suf­fered badly dur­ing the fi­nan­cial cri­sis and has had a slow re­cov­ery since.

This week Mr Ryan warned that tech­nol­ogy could make a huge num­bers of work­ers re­dun­dant.

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