Deutsche Bank layoffs: German bank axes staff from Sydney to New York, may cut jobs in India, too

With Deutsche Bank's layoff underway from Sydney to New York as it began to cut 18,000 jobs globally from Sunday, it is feared that the German bank's restructuring drive will have an impact on its Indian staff numbers too, media reports said.

The bank is expected to axe a few hundred employees in its India operations, said a report in The Times of India.

The bank's staff strength in India is estimated to be about 11,000 and it has a strong technology team in the country, said the report.