Deutsche Bank may reduce tens of thousands of jobs due to introduction of new technologies to reduce costs. It is reported by the Financial Times.
According to the chief Executive officer of Deutsche Bank John Cryan, now in the financial institution are working 97 thousand people. The number of workers in the departments customer service and back office exceed the required number, he says.
“This is not a source of competitive advantage,” added Cryan.
The head of Deutsche Bank stressed that the staff reduction is possible through the use of technologies to improve the efficiency of banking processes.