Jobs

Deutsche Bank Firing up to 1,900 Wall Streeters

Deutsche Bank AG (NYSE: DB) is going to please Wall St., although perhaps not its investment professionals employed by the bank. The company is suffering lower losses, so to combat that it will be laying off some 1,900 workers. The bank said that it has identified some 3 billion euros in cost savings and these cuts will be roughly 350 million euros of that savings contribution.

Wall St. beware … Deutsche Bank said that the job cuts would predominantly come from outside of Germany.

The German banking giant also said that it is targeting a fully loaded Basel III Core Tier 1 capital ratio of 8% for the end of the first quarter of 2013.

The Barclays PLC (NYSE: BCS) Libor scandal may not be a Deutsche Bank issue as the bank said its internal probe has cleared board members of wrongdoing.  Still, it said that individual staff behavior did not meet banking standards and that it is cooperating with regulators n the interbank probe.

Deutsche Bank went on with another Wall St. warning as it said that the industry as a whole needs to change its compensation models.

JON C. OGG

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.