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.
Deutsche Bank AG
€17.12
09:55 10/01/25
-0.11%
-€0.02
DJ EURO STOXX 50
5,017.91
23:58 09/01/25
0.43%
21.52
Xetra DAX
20,329.90
09:55 10/01/25
0.06%
12.80
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.