Christian Sewing, new CEO of Germany's Deutsche Bank, addresses the audience during the bank's annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach
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Germany's struggling Deutsche Bank says it's slashing thousands of jobs as it reshapes its stocks trading operation and refocuses its global investment banking business on its European base.The bank said Thursday it would cut its workforce from 97,000 to "well below" 90,000 . The cuts will cost the bank some 800 million euros ($935 million) this year.Sewing on Thursday affirmed the banks goal to hold costs to 23 billion euros this year and 22 billion next year.
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