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Deutsche Bank to cut jobs in equities, fixed-income businesses

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Deutsche Bank to cut jobs in equities, fixed-income businesses

Deutsche Bank AG plans to cut up to 17% of jobs in equities and 6% of jobs in fixed-income segments globally, The Wall Street Journal reported Feb. 3, citing "people familiar with the matter."

The targets equate to more than 200 people in equities and 100 in fixed income, including traders, salespeople and trade structure specialists, according to the report. Confirmation is expected in the week of Feb. 6, although the figures the bank announces may be slightly lower given the expectation for some voluntary attrition.

The reductions are part of CEO John Cryan's strategy to slash 9,000 jobs, one source said.