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Deutsche Bank denies plans to cut thousands of jobs

FRANKFURT: Deutsche Bank denied a report that it plans to cut thousands of jobs. "There are no such plans," a spokesman
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By Shoaib Ur Rehman
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FRANKFURT: Deutsche Bank denied a report that it plans to cut thousands of jobs.

"There are no such plans," a spokesman for Germany's biggest lender said on Friday.

German weekly magazine Der Spiegel earlier reported that about 15 percent of the bank's 35,000 jobs could be cut in the areas of infrastructure and regional management.

In February the bank reported a quarterly loss of 351 million euros ($463 million) after packing in 1.2 billion euros worth of one-off charges into the fourth quarter.

Copyright Reuters, 2012

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