FRANKFURT (Reuters) – Deutsche Bank will reduce branches by a “signficant” number this year and trim headcount of the retail bank by around 2,000 people in 2025, Chief Executive Officer Christian Sewing said on Wednesday.
Deutsche, which has been closing branches in recent years in an effort to cut costs and has said more were coming, has already factored in the restructuring costs for the jobs, Sewing said at a financial conference organised by Morgan Stanley.
(Reporting by Tom Sims; editing by Matthias Williams)
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