[by Larry Goldfarb]

The news that Deutsche Bank AG will cut about 543 retail jobs in Germany begins to reverse a trend of international banks cutting staff in the US.  The recent news that that the housing market is picking up and the Dow is nearing an all-time high appears to be creating optimism in this country.

The bank’s decision in Germany was spurred by its merging back office operations at its retail business in Germany, according to a person with knowledge of the matter.  The lender will combine the activities of its Deutsche Bank, Norisbank and Postbank brands, said the person, who asked not to be identified because the size of the cuts hasn’t been made public.  While Deutsche Bank will bundle back office operations, the firm doesn’t plan to cut more staff than it has agreed with labor representatives, Ronald Weichert, a spokesman for the company said today in an e-mail.

For further details, go to: [Bloomberg 9/21/12].