London CNN —
Deutsche Bank is cutting 3,500 jobs as it pushes ahead with a plan to reduce costs by €2.5 billion ($2.7 billion) by 2025.
Germany’s biggest lender said Thursday that it had made progress towards the target but still had to find savings of €1.6 billion ($1.7 billion), some of which would be driven by “simplified workflows and automation.” Most of the jobs will be lost in back office functions, it added in a statement.
Deutsche Bank also reported that 2023 profit before tax rose 2% on the previous year to €5.7 billion ($6.1
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