Deutsche Bank Cuts 18,000 Jobs: How is its Financial Performance?

Finance

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Dwi Hadya Jayani 09/07/2019 13:00 WIB

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In the second quarter of 2019, Deutsche Bank is predicted to experience a net loss of up to €2.8 billion.

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Deutsche Bank Cuts 18,000 Jobs: How is its Financial Performance?

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Deutsche Bank Profit/Loss (Quarterly)

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Deutsche Bank AG, Germany's largest bank, has decided to lay off 18,000 employees by 2022. This decision is a last resort to save Deutsche Bank from collapse. The reduction in staff is one of the company's restructuring strategies.

According to Deutsche Bank's financial data, the company posted a net loss of €409 million in the fourth quarter of 2018. However, in the first quarter of 2019, Deutsche Bank returned to profitability with a net profit of €201 million. In the second quarter of 2019, the company is predicted to experience a net loss of up to €2.8 billion.

Editor : Hari Widowati

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."