Deutsche Bank to cut back on equity trading staff - sources

Deutsche Bank is set to cut roughly one in five equity trading jobs as part of a scheme to cut costs across the globe, two people with knowledge of the matter said on Friday. The latest cuts, part of a drive announced roughly a year ago to reduce staff by 9,000 from just under 100,000 now, will result in a reduction of about 20 percent in equity trading, the people said. The Wall Street Journal said that 300 people would be affected by broader cuts that include paring back bond trading.