Deutsche Bank considering thousands more layoffs

Faced with the threat of multi-billion dollar fines, Deutsche Bank has set out contingency plans to more than double the headcount reductions which it carried out last year, Reuters reported.

According to a person with direct knowledge of the matter, in September the lender's finance chief, Marcus Schenck, told staff representatives that Deutsche Bank might cut another 10,000 employees on top of the 9,000 layoffs announced in October 2015.

However, no decision in that regard had yet been taken, Reuters said.

As of 1555 BST, shares in the lender were trading up by 2.22% to €12.36.