Deutsche Bank Implements Hiring Freeze
- German lender said to tell unit COOs to stop external hires
- Deutsche Bank hiring freeze comes amid cost cuts, legal woes
Deutsche Bank Said to Freeze Hiring Amid Cost Cuts
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Deutsche Bank AG is implementing a companywide hiring freeze as Chief Executive Officer John Cryan seeks to lower costs and shore up investor confidence, according to people with knowledge with of the matter.
In a message to divisional chief operating officers on Wednesday, the Frankfurt-based lender said hiring will be put on hold with immediate effect, said the people, who asked not to be identified because the talks are private. The hiring freeze affects all divisions excluding some control functions such as compliance, according to the people.