Tags: deutsche bank | hiring | ceo | costs

Deutsche Bank Said to Freeze Hiring as CEO Seeks Cost Cuts

Image: Deutsche Bank Said to Freeze Hiring as CEO Seeks Cost Cuts

Deutsche Bank

Thursday, 13 Oct 2016 05:20 AM

 

Deutsche Bank has introduced a hiring freeze as it seeks to cut costs amid a deep strategic overhaul, a source familiar with the matter told Reuters on Thursday.

Germany's flagship lender on Wednesday sent a memo to managers on the hiring freeze, which excludes the compliance department, the source said.

Deutsche Bank's management is working frantically to restore investor confidence by accelerating a program of cost cutting measures following a U.S. demand to pay up to $14 billion for the misselling of mortgage securities before the financial crisis.

A Deutsche Bank spokesman declined to comment on the memo but referred to an earlier statement explaining that the bank is working on an ongoing headcount reduction plan.

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Deutsche Bank has introduced a hiring freeze as it seeks to cut costs amid a deep strategic overhaul, a source familiar with the matter told Reuters on Thursday.
deutsche bank, hiring, ceo, costs
116
2016-20-13
Thursday, 13 Oct 2016 05:20 AM
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