Credit Suisse to cut 1,000 jobs: report
AFP - [email protected]
Published: 31 Oct, 2011 CET.
Updated: Mon 31 Oct 2011 10:24 CET
Swiss banking giant Credit Suisse is expected to announce 1,000 job cuts when it publishes its third-quarter earnings results on Tuesday, newspaper Tages Anzeiger reported on Monday.
When contacted by AFP, a spokesman from the bank declined to comment on the report. He said however that the chief executive of the bank Brady Dougan would hold a press conference on Tuesday.
Tages Anzeiger said that most of the jobs to be lost would be in investment banking.
The bank had already announced 2,000 job cuts or 4.0 percent of the group's total headcount when posting its second quarter profit which plunged 52 percent from a year ago owing to what it termed a "disappointing performance" by its investment banking unit.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.