The bank's share price has sagged and it paid only a small dividend of 11 euro cents per share a year ago.
The bank, which is expected to announce a range of restructuring measures to coincide with its annual shareholder meeting Thursday, will sharply reduce its presence in the US market, and has also started cutting activity in the Central Europe, Middle East and Africa region, the people said, asking not to be identified discussing private information.
Over a month after he was appointed the CEO of Deutsche Bank AG, Christian Sewing, who had earlier warned his staff members of tough decisions ahead, has said Germany's biggest lender plans to lay-off around 10,000 employees worldwide as part of its cost-cutting measures to boost the company's revenues.
More job losses are now expected if the bank is to meet its 2018 cost cutting target after pre-tax income in the corporate investment bank collapsed by 74 percent in the first quarter.
"In the foreseeable future, the group has no intention to carry out large-sized operations, because it is not possible", Jean-Laurent Bonnafé said, when asked by an investor at its AGM if BNP was "analyzing" Deutsche Bank.
The bank said it would cut headcount by 25 percent in its equities sales and trading business following a review of the business.
As part of its new strategy, the bank is aiming to scale back its corporate and investment sector by more than 100 billion euros ($117bn), with the majority of the reduction expected to be achieved by the end of the year.
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Newspaper reports said Sewing was planning to sharply reduce Deutsche Bank's presence in the U.S. market and to start cutting activity in the Central Europe, Middle East and Africa region (CEEMEA).
Chairman Paul Achleitner last month abruptly replaced CEO John Cryan with Sewing amid investor complaints the bank was falling behind in executing a turnaround plan.
The bank has also shut down much of its Houston energy trading operations, and is also moving to smaller offices in Midtown Manhattan, from Wall Street.
Deutsche Bank has struggled with high costs and troubles with regulators.
"Christian Sewing appears to be focused on addressing this line of business, which weighs like a millstone around the neck of the bank".
Deutsche Bank has always been a default source of lending and advice for German companies seeking to expand overseas or raise money through the bond or equity markets, a role which has had the tacit backing of successive governments in Berlin. There are already plenty of retail banks in Germany to provide competition and a good service to consumers.
The cuts are merely a first step and further details are needed, Ingo Speich, a fund manager at Union Investment which holds Deutsche Bank shares, said.
He adds that, for Deutsche bank it had become, "almost impossible now to recover from years of mismanagement". Most job losses came from Citigroup and Wells Fargo. Before the financial crisis of 2007-08 the bank's shares hit a peak of €91.