Chief Executive John Cryan is pushing restructuring at Germany's biggest lender, which is grappling with a deteriorating banking environment in Europe and other markets as well as a steep legal bill for past missteps.

The bank has signed a $7.2 billion settlement with the U.S. Department of Justice over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, the U.S. government agency said on Tuesday.

Bonus cuts for 2016 will affect employees who are not bound by a collective wage bargaining agreement while other groups of employees are due to get compensation packages to avert a mass exodus of staff, the German weekly magazine reported on Tuesday.

Deutsche Bank declined comment.

(Reporting by Andreas Cremer; Additional reporting by Kathrin Jones; Editing by Alison Williams)