Deutsche Bank Is Considering Increasing Job Cuts to 10,000

Deutsche Bank AG is considering 10,000 job cuts and retreating from equities markets across the world as part of a sweeping overhaul by Chief Executive Officer Christian Sewing, people familiar with the matter said. Under Sewing’s predecessor, John Cryan, the bank had a previous target of 9,000 cuts by 2020, though the Frankfurt-based lender may have made less than a third of those cuts. The future of the investment bank had been a key factor in the tumultuous management shakeup that saw him take over from Cryan last month.