Deutsche Bank is expected to kick off a round of layoffs that could see 5-to-10 percent of its workforce get axed, according to sources familiar with the bank’s thinking.

The German bank, which has a significant presence in New York, is facing the same slowdown in business that has hobbled a number of Wall Street powerhouses.

Barclays Capital and Credit Suisse, for example, are in the midst of reducing their own headcounts as the capital markets face a slower economic recovery than many economists had predicted.

Sources say that Deutsche Bank is currently undergoing a review of its personnel, which it typically conducts in the fourth quarter.

The total employee count at DB, which recently completed a roughly $14 billion offering of shares to bolster its balance sheet, is 15,850 employees — with the bulk working in the Americas.

Sources also note that DB has not instituted a hiring freeze and continues to staff up in many areas, including trading and private banking, a source said. However, the overall global employee number is likely to be lower by next year, sources say.

A DB spokesman declined to comment.