Germany -Job cuts despite positive results -November 1, 2012

Deutsche Bank is to cut 100 more jobs than initially planned from its investment banking arm, despite the division helping raise pre-tax profits in the third quarter. The bank had already indicated in September that job cuts into several thousands were about to come at central and at decentral level. The company concluded in2011 a framework agreement with the unions with a clause that says that there will be no forced dismissals till 2014.


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