Back in July, Deutsche Bank released the results of a firm-wide survey that said more than half its employees are embarrassed to tell people they work at Deutsche Bank. So the news that Germans won't be hiring for a while probably shouldn't shatter too many hopes and dreams, especially considering that in addition to the shame a majority of the staff feel for having DB on their résumé, life there these days is pretty much a waking nightmare. Still, for those who are gluttons for punishment and get off on humiliation, this has got to hurt:
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.