German banking giant Deutsche Bank announced Tuesday that it is eliminating 1,900 jobs - including 1,500 at its investment bank - in a move it says would reduce expenses by 350 million euros, or roughly $430 million in U.S. dollars.

The company said that the bulk of the high-paying positions being cut are outside of Germany, though it did not specify where. Deutsche Bank (DB) has about 100,000 employees in 70 countries.

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