Deutsche Bank Shares Fall After Implementing a Hiring Freeze

Deutsche Bank (DB) - Get Report shares were lower Thursday on reports the German bank is putting a freeze on the hiring of new staff as the company continues to fight a $14 billion fine from U.S. regulators. Deutsche Bank is currently negotiating with U.S. regulators to lower the fine that was levied for the mis-selling of toxic mortgage backed securities before the financial crisis of 2008. Deutsche Bank was supposedly already in the midst of a cost-cutting plan implemented last year to slash 9,000 staff members. However the company's headcount is higher this year than it was last year, according to Reuters.