Deutsche Bank is planning to slash another 500 investment banking jobs in the next few months to bring down operational costs as business stagnates.
The German bank is reportedly weighing reductions across its bond and currencies trading and corporate finance units.
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Decline in the revenue of bank’s fixed income division and the decision to hike base pay of senior bankers are cited as the prime reasons behind the move.
"We plan the number of employees dynamically as part of our strategy 2015-plus and in harmony with our long-term strategy to increase our efficiency," Reuters quoted a Deutsche Bank spokesman as saying.
The German bank had cut 1,500 investment banking jobs since announcing its restructuring plan in mid-2012.
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