Deutsche Bank will lay off 18,000 workers for restructuring by 2022

Traditional banking is increasingly threatened by geopolitical uncertainties, artificial intelligence, bitcoin and other new technologies, so giants like Deutsche Bank are trying to fundamentally change their business models. On July 7, Deutsche Bank CEO Christian Sewing said that banks must now rebuild to survive. In order to achieve this goal, Deutsche Bank announced plans to withdraw from its stock sales and trading business, while retaining its key equity capital market business and creating a new capital issuer plan. In addition, it plans to invest 13 billion euros in technology and another 18,000 jobs by 2022, while a management committee member will be responsible for digitization, data and innovative services.