Change in Deutsche Bank – level 3

18-07-2019 07:00

Deutsche Bank announced that it would be cutting about one fifth of its global workforce, or approximately 18,000 jobs, over the next three years. That translated to the bank having around 74,000 employees by 2022.

Deutsche Bank wants to achieve higher profitability by the massive restructuring. It is also going to close equities sales and trading business and reduce its investment banking operations.

The CEO described the big change as a ‘restart for Deutsche Bank’ and returning to what the bank once was, which made it one of the leading banks in the world. The restructuring is not going to be cheap, though – the bank expects a loss of about $3.14 billion for this year’s second quarter.

Difficult words: announce (officially say something), equities (stocks or shares or parts of a company), CEO (a chief executive officer, the boss).

You can watch the video news lower on this page.

What do you think about this news?

LEARN 3000 WORDS with NEWS IN LEVELS

News in Levels is designed to teach you 3000 words in English. Please follow the instructions
bellow.

How to improve your English with News in Levels: 

Test

  1. Do the test at Test Languages.
  2. Go to your level. Go to Level 1 if you know 1-1000 words. Go to Level 2 if you know 1000-2000 words. Go to Level 3 if you know 2000-3000 words.

Reading

  1. Read two news articles every day.
  2. Read the news articles from the day before and check if you remember all new words.

Listening

  1. Listen to the news from today and read the text at the same time.
  2. Listen to the news from today without reading the text.

Writing

  1. Answer the questions under today’s news and write them in the comments.
  2. Chat in our Facebook Group for 2 minutes. You can write about today’s news.

Speaking

  1. Choose one person from the Skype section.
  2. Talk with this person. You can answer questions from Speak in Levels.