Deutsche Bank Said to Cut 250 Investment Bank Jobs

Deutsche Bank is implementing cost-cutting measures, initially planning to cut 250 jobs in the securities unit, potentially increasing to over 500. The bank faces financial challenges, including three consecutive annual losses and declining revenue. CEO John Cryan, known for his cost-cutting focus, has abandoned the 2018 cost target, now aiming for a 23 billion cost basis. The bank's investment unit, a significant cost center, is under scrutiny as Cryan seeks to balance cost reduction with revenue growth.

What is the reason behind Deutsche Bank's decision to cut jobs?

How many employees does Deutsche Bank have approximately?

What challenges does Deutsche Bank face in terms of revenue?

What was the initial cost target set by Deutsche Bank for 2018?

What is the current target for cost adjustments set by Deutsche Bank?