15,000 jobs to be lost at Deutsche Bank

Deutsche Bank is cutting 15,000 jobs as part of a major reorganisation of the company.

It will close some branches and pull out of 10 countries, including Denmark, Norway and Mexico.

The bank has also announced losses of around €6bn over the third quarter.

The changes are being made in an effort to return to profit.

It is reported that the bank is hoping to reduce its risk-weighted assets to about €320bn by the end of 2018.