As many as 450 jobs will be cut from Deutsche Bank's Irish operations in Dublin.
The global banking group announced changes to its operations in Ireland today as part of a "global strategy to consolidate similar infrastructure functions into fewer locations".
Almost 250 roles will be moved from Dublin to other centres around the world as part of a company restructuring.
Separately, the bank will be "materially reducing its contractor workforce in Ireland over the course of the year"
There are around 200 people employed as contractors in Ireland, bringing the total job losses announced to up to 450.
The move to reduce the number of contracted staff will come following the completion of a number of projects.
Dublin will continue to be "a major centre" for Deutsche Bank’s Corporate Bank business, the bank added in a statement.
A further 35 new front office roles will be added over the summer to build up their Corporate Bank franchise.
Deutsche Bank will also continue to employ around 200 employees in Dublin in its Data and Innovation Lab.
Mary Campbell, Chief Country Officer of Deutsche Bank Ireland said: “We understand that the proposed plan will cause uncertainty and concern to impacted colleagues, and we are committed to supporting them through the consultation process.
"Dublin will continue to be an important centre for the bank.”
Deutsche Bank first opened in Ireland in 1991.
The proposed changes will not impact the service provided to the bank’s clients.
