Deutsche Bank fired 300 U.S.-based investment bankers on Wednesday as part of a broader overhaul of the global unit, a person with knowledge of the matter said on Thursday, Reuters reports.
The bank will lay off another 100 U.S. bankers by the end of the week, said the person, who was speaking on condition of anonymity.
The Financial Times was the first to report the development.
Separately, German newspaper Frankfurter Allgemeine Zeitung said Deutsche Bank planned to cut more than 1,000 jobs in the United States. The bank declined to comment on the figure.