Deutsche Bank Lays Off More Than 100 Senior Bankers to Reduce Costs
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Deutsche Bank has laid off 111 senior managers from its retail and wealth management unit as part of a cost-cutting strategy to achieve a cost-to-income ratio of 60-65% by the end of 2025.
November 13, 2024 | 6:15 pm
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Deutsche Bank has laid off 111 senior managers to reduce costs and improve its cost-to-income ratio to 60-65% by 2025. This move is part of a broader strategy to enhance financial efficiency.
The layoffs are a significant step in Deutsche Bank's strategy to reduce costs and improve financial metrics. This cost-cutting measure is likely to be viewed positively by investors as it aims to enhance profitability, potentially leading to a short-term positive impact on the stock price.
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