Deutsche Bank to cut more jobs

Deutsche Bank, Germany's biggest bank, said yesterday it would cut about 2,100 more jobs, taking the total number of planned lay-offs to more than 9,000, about 9 per cent of its workforce.

The latest job cuts, which affect primarily Deutsche's corporate and investment banking division, would result in a restructuring charge of €290 million (£228.4 million) in the fourth quarter of this year, the bank said. Analysts said further cuts were likely next year as Deutsche struggled to control costs at a time of deepening economic uncertainty.