USA: Deutsche Bank is expected to remove a thousand posts

FRANKFURT (Reuters) – Deutsche Bank (DE:DBKGn) is expected to remove about a thousand positions, representing 10% of its workforce in the United States, reported on Friday a source aware of the dossier in the framework of a reorganization of its investment banking operations.

The German bank has already laid off 400 people this week, including 300 corporate bankers, according to a second source.

“I can tell you that the people who make money here will continue to be paid and supported, because Deutsche Bank is in need of this income,” said a banker. “The challenge now is to maintain our teams.”

On Thursday, the group announced a reorganization of its investment banking operations, reducing the wing in the trading bond and equities after a first quarter marked by a fall of 79% in net income.

He had not been given a figure or a precise timetable.

On Friday, Moody’s changed its outlook to “negative” on certain ratings of the bank.

The title ended down 3.36% to 11,47 euros on the Frankfurt stock Exchange.

(Tom Sims, Hans Seidenstuecker and Gregory Roumeliotis; Catherine Mallebay-Vacqueur for the French service)