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Deutsche Bank holds a meeting next week to decide on reducing the number of jobs



Deutsche Bank will hold a Supervisory Board meeting on July 7th to discuss a major restructuring plan that could result in the abolition of up to 20,000 jobs, Reuters reported.

Executive Director Deutsche Bank, Christian Swing, called for extensive reforms last month when shareholders pledged to "rationalize" the bank to make a quantum leap after a failed attempt to merge with Comverse Bank.

Two sources say the bank is also considering reducing the number of board members.

The third source described the plans as unconvincing and that many aspects were not decided.

Deutsche Bank refused to comment on the changes.

The bank has announced that it is working on measures to accelerate the pace of transformation in order to improve sustainable profitability. "We will notify shareholders of the latest events if necessary and when necessary," he said.


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