For the second time within the space of a year, Credit Suisse is announcing cuts, this time trimming a further SFr1 billion ($991 million) in operating costs amid challenging market conditions, including lower fees from asset management and a slump in investment banking, The original target had been to reduce its operating cost base to… Read More >>
Credit Suisse to Cut 2,000 More Jobs
Credit Suisse is struggling with challenging, volatile markets and some traders’ poor choices, and will be speeding up its restructuring, which means that the Swiss banking giant will be cutting 2,000 more trading-related jobs from its Global Markets investment banking division. Last month, the bank said that it would cutting 4,000 staff members. The bank’s… Read More >>
Credit Suisse to Slash 4,000 Jobs in 2016
Credit Suisse will be cutting approximately 4,000 positions including employees, contractors and consultants as part of a major cost-cutting effort as the Swiss banking giant faces a steep loss for the fourth quarter of 2015 and a loss for the year. The loss for the fourth quarter of 2015 was a steep drop of 5.8… Read More >>
