Swiss banking giant Credit Suisse announced on Thursday it would make 4,000 job cuts in an attempt to reduce costs after posting a huge quarterly loss.
Credit Suisse had the 1.76 billion francs in reserves for litigation at the end of June after tapping shareholders for 6 billion francs in late 2015 to fund the restructuring.The Credit Suisse logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016.
Credit Suisse is to cut about 2,000 jobs at its London operation, either by laying off staff or moving posts offshore.Bloomberg Terminal Execution and Order Management Data and Content Financial Data Management Integration and Distribution Bloomberg Tradebook.
Credit Suisse Group AG is seeking ways to further reduce costs at the trading unit already targeted for deeper cuts after it blindsided Chief Executive.
Credit Suisse became the latest investment bank to cut jobs in the UK on Monday, as plunging stock markets revived concern that the trickle of redundancies seen in.
Global markets unit to post profit in third quarter, CEO says.Zurich-based Credit Suisse also said it will cut its headcount by a net 5,500 jobs in 2017 after 7,250 layoffs in 2016, as it works towards its 2018 cost-cutting target.Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no.Credit Suisse says its 2016 losses were 2.44 billion Swiss francs, it plans to cut up to 6,500 more jobs this year.
Credit Suisse reports its first annual loss since 2008 and announces that it is going to cut 4,000 jobs.ZURICH, May 9- Credit Suisse plans to add around 1,200 jobs in North Carolina, partly by moving positions from New York City, the Swiss bank said on.
The Zurich-based bank is scheduled to release third-quarter earnings on Nov. 3, followed by an investor day on Dec. 7.CEO Tidjane Thiam was hired last year to revive the struggling bank.Credit Suisse is planning job cuts across many European offices to reduce costs.Credit Suisse plans to add around 1,200 jobs in North Carolina, partly by moving positions from New York City.