Deutsche Bank outsourcing 60 accounting jobs from US to Mumbai to trim cost

In July, people briefed on the matter said the Deutsche Bank would also cut dozens of employees in Chicago

Deutsche Bank AG was at the forefront as Wall Street began “nearshoring” staff to cheaper cities across the US Now, the German lender is moving some of those jobs to India.

The bank is offshoring about 60 accounting positions to Mumbai from its campus in Jacksonville, Florida, as it seeks to trim costs, people with knowledge of the matter said. It’s part of a larger shift, with management intending to move more jobs from the U.S. to India this year, one of the people said, asking not to be identified because the plans are private.

“We regularly review our footprint and look