By Euan Conley 
 

Deutsche Bank AG (DBK.XE) said Thursday that it plans to cut thousands of jobs as part of the overhaul of its corporate and investment banking operation.

The German bank said the company's overall headcount will fall "well below" 90,000, from just over 97,000.

The Wall Street Journal on Wednesday reported that Deutsche Bank was planning to eliminate around 10,000 full-time positions, or roughly 1 in 10 jobs at the bank.

The bank expects restructuring charges of up to 800 million euros ($936.4 million) to weigh on its 2018 results

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

May 24, 2018 01:57 ET (05:57 GMT)