Deutsche Bank plans to cut as much as 17% of its equities staff and 6% of its fixed-income staff globally, with notices planned for many employees next week, according to people familiar with the matter.

The cuts, details of which haven’t been reported, are aimed at bringing the number of people working in the bank’s trading unit in line with a narrower array of products on offer, and reflect disappointing performance, particularly in equities, the people say.