Deutsche Bank executives are reportedly considering trimming its U.S. equities segment – something that could lead to job cuts of around 20,000.
Citing sources familiar with the matter, CNBC reported that the investment bank's supervisory board will meet on Sunday to discuss the restructuring plan, which could reportedly cost as much as 5 billion euros if implemented. They might also ponder the option of even closing the U.S. equities division, as indicated by the report.
No official statement regarding a restructuring has come forth from the investment bank, as yet.
On Friday, the bank announced that its investment banking chief Garth Ritchie is stepping down.