Deutsche Bank is cutting 3,500 jobs

Deutsche Bank has announced that it will cut 3,500 jobs, buy back shares, and pay dividends. Those decisions are in the latest message to investors, according to which the bank's recovery continues.

Germany's biggest bank aims to shake off years of turmoil and focus on more sustainable retail banking.

The bank has already announced plans to cut jobs, but this is the first time it has announced the number of layoffs—about 4% of its global workforce of about 90,000 people.