Deutsche Bank to cut 18,000 jobs in 7.4 bln euro overhaul

Deutsche Bank plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany's struggling flagship lender. The bank will scrap its global equities business and scale back its investment bank. It expects a 2.8 billion euro ($3.1 billion) net loss in the second quarter as a result of restructuring charges.

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