The Labor Department publishes its monthly jobs report at 8:30 a.m. Eastern — here’s what to look for. Deutsche Bank is braced for a huge shake-upThe embattled German lender’s board is expected to vote as soon as Sunday on an extensive turnaround plan that could lead to 20,000 layoffs, close entire businesses and cost nearly $6 billion. What’s on the table, according to Bloomberg:• The potential closing of some or all of the bank’s unprofitable non-European equities business. • 15,000 to 20,000 layoffs, Deutsche Bank’s biggest staff cut in decades. • The departure of senior executives like Garth Ritchie, the head of its investment bank; Sylvie Matherat, its chief regulatory officer; and James von Moltke, its C.F.O.

Source: International New York Times July 05, 2019 09:54 UTC