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Deutsche Bank plans to cut nearly 2,000 retail jobs and close a significant number of branches as part of its restructuring strategy, according to CEO Christian Sewing. This decision comes in response to declining profits and aims to reduce costs.
Deutsche Bank plans to cut 2,000 jobs in its retail banking division this year due to declining profits, as stated by CEO Christian Sewing. This reduction, which includes positions at Deutsche Bank and its subsidiary Postbank, is part of a broader restructuring effort already accounted for in the company's 2024 financials. The bank previously laid off 3,500 support staff last year and is also closing 50 of its 400 local branches.
Investors took profits from Deutsche Bank and Commerzbank, leading to a 6.3% drop for Commerzbank and a 2.3% decline for Deutsche Bank. This sell-off followed a significant rally, with Commerzbank rising 60% and Deutsche Bank 38% since 2025, outperforming the European banking sector. Analyst Jason Napier noted that strong quarterly results and easing concerns over falling eurozone interest rates contributed to the banks' recent performance.
The Development Bank of Kazakhstan (DBK) has secured a framework agreement with Banco Santander for up to €400 million (approximately $434 million) to finance infrastructure and energy projects involving international exporters. Over the past year, DBK has borrowed around $1.96 billion, initially relying on Chinese banks before shifting to European lenders, including recent agreements with German banks and Italian institutions.
Deutsche Bank plans to cut 2,000 jobs this year, following a previous reduction of 3,500 support staff in 2024, as part of its strategy to enhance profitability. The cuts will primarily impact the personal banking sector and its subsidiary, Postbank, amid ongoing restructuring efforts led by CEO Christian Sewing. The bank has also closed 125 branches in 2025 and intends to shut down 50 more this year, focusing on corporate banking and wealth management while moving away from investment banking.
Adam Hoffman, a former student campaigner against wokeness, graduated from Princeton in 2023 and joined Citadel in 2024 before linking up with Elon Musk’s DOGE in 2025. Meanwhile, Barclays CFO Anna Cross is closely monitoring client returns, and investment banking vacancies are seeing a decline in remote work offers. In Paris, the financial sector faces layoffs as the market shifts, with Deutsche Bank planning to cut 2,000 retail banking jobs amid regulatory challenges.
The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, signaling a potential end to the cycle of rate cuts among major central banks amid global economic uncertainty. Analysts express mixed views, with some predicting further cuts if disinflation persists, while others believe rates will stabilize, reflecting the SNB's cautious approach to inflation and economic conditions. The next meeting in June is deemed crucial for future policy direction.
Deutsche Bank plans to cut around 2,000 jobs in its retail banking division due to falling profits, as announced by CEO Christian Sewing. The bank will also close several branches, continuing its strategy to reduce costs and improve profitability, targeting a return on equity of over 10% by 2025. Last year, Deutsche Bank laid off 3,500 support staff and has already closed 50 of its 400 local branches.
Deutsche Bank plans to cut nearly 2,000 jobs in its retail banking division in 2025 as part of a restructuring strategy aimed at reducing costs. This follows the closure of 125 branches in 2024 and reflects the ongoing shift towards digital banking, highlighting the challenges faced by traditional banking roles. The bank has accounted for restructuring costs, but concerns remain about the impact on displaced employees amid a transforming industry landscape.
Goldman Sachs' president, John Waldron, is seen as a frontrunner to succeed David Solomon as CEO, with a career marked by a strong work ethic and client relationships. Meanwhile, the IPO market is cautiously reopening, with tech start-ups like CoreWeave and Klarna planning listings, although concerns linger due to recent market volatility.
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