February 19, 2018 / 1:47 PM / a month ago

Deutsche Bank to cut at least 250 investment banking jobs -source

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) is cutting at least 250 investment banking jobs in locations including London and the United States, a person familiar with the matter told Reuters, adding that the figure could rise to as many as 500.

A red traffic light is photographed in front of the head quarters of Germany's largest business bank, Deutsche Bank, in Frankfurt, Germany, December 6, 2017. REUTERS/Kai Pfaffenbach

Bloomberg earlier cited sources saying that Deutsche is trimming senior and mid-level investment banking positions.

    Deutsche’s Corporate and Investment Bank had 17,251 full-time employees at the end of 2017.

    It is in the process of cutting 9,000 jobs group-wide from 2015 levels, or around one in 10 staff, with 4,000 jobs expected to go in Germany.

    Reporting by Andreas Framke; writing by Maria Sheahan; editing by Kathrin Jones and Jason Neely

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