Deutsche Bank AG abruptly ended the suspension of its huge job cuts program after the coronavirus outbreak, saying it will resume dismissals as Chief Executive Officer Christian Sewing strives to beat his own expense targets. “We decided to further accelerate our cost reduction program," Sewing said in remarks prepared for the lender’s annual general meeting next week. “It’s precisely because the transformation is essential for the future of our bank and we bear responsibility for a sustainable business model that we will, unfortunately, have to resume these personal discussions." Global banks put staff firings on hold as the outbreak spread in March to avoid adding to employee hardship.
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