Struggling Deutsche Bank sets recruitment freeze to balance tumbling profits
The bank's British chief executive John Cryan has already scrapped management bonuses and dividends, shed risky assets and announced 9,000 jobs cuts by 2020 in response to record losses and nosediving share prices.
NordLB analyst Michael Seufert said: "It’s a very drastic step. But it makes sense if they're excluding compliance from the freeze - they have a lot of catching up to do.”
JPMorgan Chase & Co said Deutsche Bank could save up to £1.72 billion through a recruitment freeze.
The latest drastic move comes after a year in which high legal fees, challenging market conditions... read more
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