Deutsche Bank has made its biggest quarterly loss in four years as it counts the costs of plans to reduce its global workforce by 18,000. Deutsche Bank expects the turnaround strategy to cost a total of €7.4bn and is aiming to return to profit next year. This month, Deutsche Bank announced the plans to cut about a fifth of its 91,500-member global workforce by 2022. Quick guide What went wrong at Deutsche Bank? 2004-2008 Deutsche Bank becomes a leader in mortgage-backed securities, bundling up homeowners’ debt into huge packages and selling them on to investors.

Source: The Guardian July 24, 2019 11:41 UTC