Deutsche Bank AG plans to cut about 900 jobs in its global markets division as the credit crisis worsens, two people briefed on the plan said.

The reductions, mostly in London and New York, will be made in the so-called exotic structured products, credit origination, and proprietary trading teams, said the people, who declined to be identified before a formal announcement.

Deutsche Bank, whose corporate and investment bank has 15,500 employees, has already eliminated more than 1,500 jobs this year, according to data compiled by Bloomberg.

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