The new owner of Silicon Valley Bank's (SVB) US operations, First Citizens, is cutting around 500 roles held by former SVB workers, the BBC understands.
EDnews informs via BBC that two months ago, First Citizens bought the business after SVB's collapse.
The failure of SVB, along with two other US banks, triggered fears of a more widespread banking crisis, which forced authorities to step in.
SVB's business in the UK was bought in March by London-headquartered banking giant HSBC for a nominal £1 ($1.25).
In an email seen by the BBC, First Citizens' chief executive Frank Holding highlighted the problems faced by SVB earlier this year and said the cuts will affect: "select SVB corporate functions and do not include any personnel in client-facing positions."
"The team in India that supports SVB is not impacted by the changes," he added.
The BBC understands that the job cuts amount to around 3% of the company's total workforce.