Is this true? No hiring? That always leads to layoffs.
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Hiring Freeze normally means more than one person is attempting to post out and wants to to leave a department or a restructure is happening. Lets talk about case 1. Stop the department headcount from leaving. recommendation is to kiss employees assand find a way to make the majority stay until we can find replacements then turn back around and start eliminating employees one at a time using the PDP plan (personal development plan). Start re-stalking the department headcount with new hires.
Investment Bank isn't doing too well either! Too much expenditure on extremely superfluous projects that didn't produce the goods. Also the industry as a whole has slowed down tremendously in the past year. Credit Suisse is joining the fray with: "Credit Suisse - 2,000 Investment Banking Jobs"
http://whtc.com/news/articles/2016/mar/23/credit-suisse-steps-up-cost-and-job-cuts-in-investment-banking/