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LABOR > Deutsche Bank to ax jobs

FRANKFURT - Agence France Presse

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Deutsche Bank, Germany’s biggest lender, is to cut 1,000 jobs in its investment banking division, the business daily Handelsblatt reported yesterday, quoting “well-informed financial sources.”

The layoffs had become necessary in view of the difficult situation on the financial markets and most of the jobs would be cut outside Germany, with Deutsche Bank likely to unveil them when it publishes its second-quarter results on July 31, the newspaper said. Deutsche Bank declined to comment on the report.

July/20/2012

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