German banking giant Deutsche Bank said yesterday it would cut 3,500 jobs worldwide by the end of next year, reports BBC. Staff have already endured cuts as the bank attempts to reassure investors by slimming down the business. The banking industry has seen a fall in takeovers and share listings, which has dented revenues for many financial institutions. Deutsche Bank employs 90,000 staff around the world. The announcement suggests most of the cuts will be non-client facing roles. Chief executive Christian Sewing, who took charge in 2018, was tasked with turning around the lender’s fortunes by bolstering its retail division. Both Citigroup and Goldman Sachs have shed posts, while Barclays cut 5,000 jobs worldwide last year, and is due to update investors later this month, with further job losses a possibility. Meanwhile, Lloyds Banking Group is planning to cut 1,600 staff from its branch network as it tries to reduce costs and push customers towards digital services as part of a corporate overhaul.