Deutsche Bank could delete "up to 20,000 jobs"

Up to 20,000 jobs could be cut at Deutsche Bank as the company is about to announce plans for global restructuring.

The majority of the reductions are expected in the cities of London and Wall Street.

The German banking giant is struggling with long-term problems, including the profitability of certain operations and the fall in share prices.

She tried several options to reorganize her business, including the failure of merger negotiations with rival Commerzbank in April.

Reports suggest that the company's board of directors will approve a restructuring plan on Sunday, resulting in the loss of a fifth of the company's global workforce.

Focus on profit

Experts expect Chief Executive Officer Christian Sewing, who held the position of leader a little over a year ago, to announce bold changes telling markets that he has a recovery plan.

At the May Annual General Meeting, Mr. Sewing told shareholders that he would "speed up the transformation" by focusing the bank on "profitable and growing" businesses.

"I can badure you that we are ready to make severe cuts," he said.

London is home to most of its investment activities, with a total staff of nearly 8,000 people based in the UK.

On Friday, it was announced that Garth Ritchie, head of the investment bank, would leave.