Germany's largest commercial bank, Deutsche Bank, has announced plans to cut a further 2,100 jobs in its corporate and investment banking divisions.

"The restructuring will be carried out over next 12 months," the bank said in a statement.

About 350 jobs will be lost in the UK where the bank employs less than 10,000 people.

The job cuts come on top of 7,100 cuts announced in several waves of cost-cutting measures earlier this year.

Some analysts expect the total layoffs to rise in 2002 to between 12,000 and 15,000.

Global impact

The latest job cuts will affect staff across the globe, in its US, Asia Pacific and continental European offices.

The bank said it would set aside 290m euros [�177m; $257m] in the fourth quarter of this year to pay for the cut-backs.

With the latest job cuts, about 10% of its workforce will be slashed by 2003.

Deutsche Bank has a 95,000-strong workforce globally.

Terror impact

Deutsche Bank is trying to move into the first tier of global investment banks, had earlier this year pledged to limit job losses to 2,600.

Deutsche Bank chief executive Rolf Breuer has said in the past he wanted to limit job losses so as not to undermine the bank's expansion plans.

But profits fell 49% in the three months from July to September and the bank took an asset write-down of 408m euros (�253m) after 11 September.

The terrorist attacks in the United States sent Deutsche Bank's holdings in telecoms and technology stocks plunging in value.

The bank will announce its full-year result on 31 December.