Deutsche Bank will cut 18,000 jobs worldwide as part of a radical restructuring

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Deutsche Bank announced a plan to cut 18,000 jobs by 2022 to improve profitability and returns for shareholders.
The bank is struggling to compete against Wall Street as a major force because of regulatory sanctions and fines, high costs, low profits and a low stock price.
In an attempt to reduce its total annual costs from $ 25 billion to $ 6 billion to $ 19 billion, the bank will abandon its stock brokerage business and abandon its global equity business.
The restructuring follows its inability to agree on a merger with rival Commerzbank.

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