Deutsche Bank AG is moving about 60 accounting positions from Jacksonville, Fla., to Mumbai, India, Bloomberg News reported Jan. 11, citing people with knowledge of the matter.

The German lender is seeking to cut costs, and its management intends to move more jobs to India from the U.S. in 2019, one of the sources said. The report came after the bank in May 2018 informed employees that it was closing its Houston office and moving its New York City headquarters from Wall Street to Midtown, cutting its footprint in the city by 30%.