Deutsche Bank to lay off 10,000 employees

Heads are rolling at Deutsche Bank again, as New York Post reports.

The beleaguered German bank is reportedly planning to lay off as many as 10,000 employees, or 10 percent of its workforce, through next year.

The planned cuts, which are coming about two months after the bank elevated its new CEO Christian Sewing, accelerate and deepen layoffs that were planned by the last top exec, John Cryan, the Wall Street Journal reported Wednesday, citing sources.

Cryan had planned to shed 9,000 positions around the world by 2020. It’s unclear how many of those had actually been cut, although the bank reportedly laid off 400 workers in the US last month. Among the deep cuts are a full-on retreat from stock trading in the US and a pullback in other parts of the world.