Deutsche Bank to axe 1,920 jobs in Germany

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In total, 2,720 jobs will go, mainly from back-office functions but there will be 800 new positions, as the bank refocuses its attention on 'customer-facing' positions.

In addition, Deutsche is expected next week to announce a slim-down of its asset management activities, although full details of any job cuts are not expected until next spring. Also due to be disclosed over the coming weeks, and by next February's annual results disclosure at the latest, is the planned rationalisation of investment banking.

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