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Deutsche to axe Swiss trading jobs - sources

Wed Dec 3, 2008 5:21am EST

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ZURICH, Dec 3 (Reuters) - Germany's Deutsche Bank (DBKGn.DE) is closing down its share and derivative trading business in Zurich and will cut around 30 jobs, financial sources told Reuters on Wednesday.

Deutsche Bank was not immediately available to comment.

Major banks around the world are cutting staff, especially in investment banking, in a bid to cope with a spiralling financial crisis that is pushing many countries into recession.

Deutsche Bank has plans to lay off about one in seven traders worldwide or about 900 staff, sources with knowledge of the plan told Reuters on Nov. 19. (Reporting by Rupert Pretterklieber; Writing by Lisa Jucca; Editing by Jon Loades-Carter)



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