Deutsche Bank AG is cutting dozens of traders and salespeople in its global fixed-income ranks, a unit that was largely spared from the first round of reductions in the firm’s overhaul two months ago.
The bank has let go employees in high yield, distressed and investment-grade debt teams in New York and abroad, according to people familiar with the matter, who asked not to be identified discussing personnel matters. The reductions are largely tied to the underperformance of some divisions, such as the credit business in Latin America, which is being eliminated entirely, one of the people said.