Germany’s Deutsche Bank has posted its worst quarterly report in four years.

The German bank is beginning to feel the effects of shedding 18,000 employees from its workforce.

Deutsche Bank has been having a rough few years. The bank posted a 3.1 billion Euro net loss for its second quarter, and it is still going through massive layoffs to its global workforce. Deutsche Bank has been going through a self-styled reorganization, cutting 18,000 jobs and cutting 3.4 billion Euros in costs, helping to push its earnings as low as it did.

This 3.1 billion Euro net loss is the greatest quarterly loss Deutsche Bank has posted since the third quarter of 2015. In 2015, Deutsche Bank posted a 6 billion Euro loss, which was the second greatest historical loss for the bank after the 2008 financial crisis. The disastrous numbers also follow a profitable first quarter which saw the bank take in 201 million Euros. Further restructuring efforts are expected to weigh down Deutsche Bank’s earnings going forward. The bank is expected to post a loss for the entire financial year of 2019.

Deutsche Bank’s stocks were down 2.3% to 6.97 Euros in afternoon trading on Wednesday. The bank has now confirmed that it’s working on selling a part of its trading business to BNP Paribas.