FX Staff At Deutsche Bank And ING Barings Escape Cuts
NEWS
FRANKFURT -- The FX group at Deutsche Bank is unlikely to be affected by staff cuts announced at the bank last week, a spokesperson in Frankfurt told FX Week.
The bank announced plans to cut 2,600 jobs -- 3% of its global 96,000-strong workforce -- to make annual savings of E1.5 billion by 2003. The staffing cuts came as Deutsche released details of its earnings for 2000, with a 52% rise in trading profits for full-year 2000, and a 102% rise in net profit for the year.
Deutsche Bank did not break
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