Restructuring at Deutsche Bank

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Germany’s largest bank, Deutsche Bank, has begun a string of layoffs that will result in 20 percent fewer employees or 18,000 jobs.

Questions:

  1. This slashing in jobs happened on the first day takeover of the new CEO. Who is the CEO?
  2. What happened to shares of Deutsche Bank after word of this sweeping overhaul?
  3. How much does Deutsche Bank plan to spend on the restructuring this year?
  4. Essentially, why is the bank being restructured?

Source:

Mohamed, T. (2019). Deutsche Bank begins brutal cull of 18,000 bankers in a $8.3 billion overhaul. Business Insider, July 6 (Retrievable online at https://markets.businessinsider.com/news/stocks/what-we-know-about-deutsche-bank-restructuring-plan-2019-7-1028333237)