TRUMP CURSE IS REAL




Deutsche Bank’s CEO last week said more job cuts are coming at the struggling Germany-based bank and based on his comments at the company’s annual meeting.

In his address, Christian Sewing said the company plans a consolidation in its anti-financial crime division.

That division is a key part of the Jacksonville office and was spotlighted in a failing New York Times report two weeks ago.

The Times story concerned transactions made in 2016 and 2017 by President Trump and his son-in-law, Jared Kushner, which were flagged as suspicious.

Sewing said Deutsche Bank is restructuring some functions to become more efficient.

“A first example: we will combine parts of compliance and our anti-financial crime unit with non-financial risk management. That will enable us to substantially cut costs,” he said, according to a news release by the bank.


https://news.wjct.org/post/deutsche-bank-plans-more-job-cuts-could-affect-its-jacksonville-offices