On Thursday Deutsche Bank reported about workforce cut to level much lower than 90000 from current 97000 people, Reuters informs. Reduction in workforce is performed within frame of restructuring that aims at cutting costs and improving profitability.

After analyzing its trading and equities business company plans to cut 25% of jobs in these divisions.

Leaders of the bank confirmed its obligation towards corporate and investment banking, as well as international offices.

Bank shareholders got tired from slumping shares and profits and asked bank’s management to speed up a recovery process.

Deutsche Bank that had been losing money for three consecutive years last month said that it is planning on reducing global investment bank and focusing on Europe and local market. Cuts will take place in the US trading, equities and hedge-funds serving business.

This year shares of Deutsche Bank already lost more than 31% of their value. Rating agencies are also putting pressure on the bank. Standard & Poor’s has to decide by the end of this month whether it will reduce credit rating of the company.