Deutsche Bank to cut 18,000 jobs
Deutsche Bank has been the big story of the morning, as a new week starts to the news that the struggling German bank will cut a colossal 18,000 jobs in a bid to become profitable once again.
Much of this can be attributed to the shift out of the global equities operations side of their investment banking business, leaving Barclays as the only European bank to challenge US giants such as JP Morgan and Goldman Sachs.
Is the restructuring a good thing for investors?
For investors this brings mixed emotions, for while this cost cutting exercise heightens the chance of future profitability, it also removes one of the most exciting parts of the business. By exiting their global equity business, the bank is sh…