Deutsche Bank Plans to Cut as Many as 20,000 Jobs in Revamp

The video discusses Deutsche Bank's plans to cut 20,000 jobs, overhauling its global workforce and possibly exiting its US equities business. Steven Aaron, a German banking reporter, explains the bank's restructuring efforts under CEO Christian Sewing, who aims for a more significant transformation than previous attempts. The bank has struggled with profitability, and the new plan targets deeper cuts in the investment banking sector, moving away from competing directly with US banks.

What major change is Deutsche Bank planning that affects its workforce?

• Hiring 20,000 new employees

• Cutting 20,000 jobs

• Opening 20,000 new branches

• Investing in 20,000 startups

Why is Deutsche Bank considering exiting its US equities business?

• To merge with another bank

• To focus on European markets

• As part of a major restructuring plan

• Due to regulatory issues

What has been a long-standing issue for Deutsche Bank?

• Strong competition in Europe

• Excessive market share

• Unprofitable investment banking

• High profitability

What is the main focus of Deutsche Bank's new restructuring plan?

• Reducing costs in investment banking

• Expanding into new markets

• Hiring more employees

• Increasing the number of branches

What has Deutsche Bank given up on according to the new plan?

• Investing in technology

• Expanding its retail banking

• Competing head-to-head with US investment banks

• Competing with European banks