Dresdner Bank is laying off several hundred jobs in its corporate lending business, according to bankers in London, as part of a cost-cutting programme that has already hit its investment banking unit.

Bernd Fahrholz, Dresdner Bank's chairman, said in August that the bank would cut 3,000 jobs as part of a new "Turnaround 2003" plan that aims to make Dresdner profitable under Allianz, its German insurer parent.