Banking on big job cut
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.