Deutsche Bank slashes fixed income - 75 jobs cut in London and New York
The cuts are in the bank's fixed-income trading unit, which deals with products such as bonds and interest rate swaps. Those affected are being notified on Monday.
"We are restructuring our FICC business to make it more suited to future market demands," a Deutsche Bank spokesman said.
The bank's global markets division employs about 4,800 people worldwide.
A combination of increased regulatory costs, competition from US banks, and volatile markets has made traditional investment banking business models less profitable.
Deutsche Bank last month announced a loss of $7.4 billion (£5.1 billion) for 2015 and the Frankfurt, Germany-based firm's share price reached record lows after the release.
It's been a brutal year for fixed-income traders. Morgan Stanley cut 25% of its fixed-income headcount, while Goldman Sachs said in January it would make adjustments to address the "cyclical and secular pressures" in that business.
The top 10 global banks have seen a 30% decrease in fixed-income front-office headcount and a 16% reduction in equities front-office staff since 2010, according to the data-analytics company Coalition.
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