{"id":17249,"date":"2023-04-20T08:33:12","date_gmt":"2023-04-20T08:33:12","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/deutsche-bank-plans-to\/"},"modified":"2023-04-20T08:33:45","modified_gmt":"2023-04-20T08:33:45","slug":"deutsche-bank-plans-to","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/deutsche-bank-plans-to\/","title":{"rendered":"Deutsche Bank plans to cut jobs, shrink board – source"},"content":{"rendered":"

BERLIN (Reuters) – Deutsche Bank plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs, a source close to the bank told Reuters on Thursday. <\/p>\n

Germany’s largest bank, which is due to present first-quarter results on April 27, declined to comment on the plans.<\/p>\n

The source said that the cost-cutting measures would not affect plans to replace deputy chief executive Karl von Rohr, who the bank said on Tuesday would not renew his contract as a board member after October. <\/p>\n

Deutsche Chief Executive Christian Sewing said in February that he could not rule out job cuts. <\/p>\n

The bank completed its transformation phase at the end of 2022 with an improved cost-to-income ratio, but Sewing still needs to reduce costs. Compared to other European banks, Deutsche has high costs in relation to income. <\/p>\n

Bloomberg first reported on the board shake-up. <\/p>\n

\n

(Reporting by Marta Orosz; Writing by Madeline Chambers; Editing by Sabine Wollrab and Miranda Murray)<\/p>\n

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BERLIN (Reuters) – Deutsche Bank plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs, a source close to the bank told Reuters on Thursday. Germany’s largest bank, which is due to present first-quarter results on April 27, […]<\/p>\n","protected":false},"author":8,"featured_media":17309,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-17249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3J0A8-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/17249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=17249"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/17249\/revisions"}],"predecessor-version":[{"id":17310,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/17249\/revisions\/17310"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/17309"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=17249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=17249"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=17249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}