Deutsche Bank will cut up to 450 full-time and contractor jobs at its office in Dublin.
The bank has announced its plans to relocate just under 250 full-time jobs to its other branches abroad.
It also plans will be materially reducing its 200-person contractor workforce in the country over the course of the year following the completion of several projects.
The jobs being axed are mainly in the operations and technology operations departments.
However, the German bank said it will add 35 front office jobs to its Corporate Bank franchise.
Additionally, Dublin will remain an important centre for its specialist Data and Innovation Labs which are expected to employ around 200 people.
Mary Campbell, Chief Country Officer of Deutsche Bank Ireland said: "We understand that the proposed plan will cause uncertainty and concern to impacted colleagues, and we are committed to supporting them through the consultation process."
