Deutsche Bank said to introduce hiring freeze

Deutsche Bank was in the spotlight again on Thursday following reports the lender has introduced a hiring freeze as it looks to cut costs.

Reuters and Bloomberg cited people familiar with the matter as saying that a memo was sent to managers on Wednesday notifying them of the freeze, which excludes the compliance department.

Deutsche shares have been on a rollercoaster ride recently as it faces a $14bn fine from the US Department of Justice over the mis-selling of mortgage-backed securities.

On 6 October, Deutsche said it had reached an agreement with labour representatives to axe 1,000 positions in Germany as part of its restructuring plans.

At 1210 BST, DB shares were down 2.4% to €12.05.