Deutsche Bank set to freeze recruitment
Samuel Gee, News Editor
14 Oct 2016, 12:01 p.m.
In addition to several rounds of redundancies in recent weeks, Deutsche Bank is now believed to be freezing any further recruitment across the entire company. The German bank’s current issues have been well publicised.
The German Bank’s recent refusal to pay a $14 billion fine set by the US Department of Justice highlighted the extent of their liquidity shortage, prompting a sharp decline in their share price. Although the bank has recovered since two weeks ago, bouts of redundancies and freezing recruitment do not breed confidence in the bank’s health. With derivative holdings that dwarf the entire European Union’s GDP, the bank has been labelled the most dangerous in the world and its failure could spark the next global financial crisis.
With the DB share price losing 90% of its value since 2007, investors watch with bated breath as the world’s largest derivative owner struggles to stay afloat.