mo4ch:>Deutsche Bank axes 18,000 jobs worldwide as part of $8.3bn ‘restart’ plan | Mo4ch News

Numerous Deutsche Bank employees around the globe were told to leave on Monday, with the German lender eliminating entire teams in Asia and Australia as part of its massive plan to “restart” some business operations.Cuts began on Monday morning in Sydney, Hong Kong and other locations in the Asia-Pacific region. In Asia alone, Deutsche Bank will close all operations, though the majority of the redundancies will take place in the US and Europe. The German firm said it will reduce its global workforce to 74,000 by 2022 in a move that will cost €7.4 billion ($8.31 billion) altogether.The bank did not reveal which jobs will be lost, but announced that it will completely withdraw from areas relating to trading shares – the bulk of which is concentrated in London and New York.Elsewhere, those being let go will be offered redundancy packages prior to their departure. A Hong Kong-based equities trader told Reuters said the mood inside his division was “pretty gloomy” as people were being call…