Credit Suisse will cut 5300 jobs
4 December 2008One of the largest Swiss banks Credit Suisse will cut 5300 jobs, or about 11 % of its global work force, in connection with global financial crisis. Such information has been represented in the published statement of bank.
According to the statement, reductions will mention mainly banking investment branch. In result of reductions and other measures on increase of profitableness the bank expects to reduce costs on 2 billion Swiss francs (€1,3 billion).
Thus the bank has estimated losses for current quarter (at the end of November, 2008) at the level of 3 billion Swiss francs (€1,95 billion).
Let’s remind, that in the end of October Credit Suisse declared about reduction of 500 workplaces in investing sector. As Credit Suisse’s mass-media representatives have informed later, reductions will touch employees in the USA and the Great Britain. Earlier Credit Suisse informed that it was intended to cut 1500 jobs.
Within 9 months of 2008 Credit Suisse’s pure losses have made 2,19 billion Swiss francs (€1,46 billion). For 9 months of 2008 A company’s gains have decreased on 56 % and have made 14 billion Swiss francs (€9,34 billion).
Credit Suisse is the largest European bank, offering a wide spectrum of services.
- Credit Suisse dismisses employees in the USA and Great Britain
- Americans do not use credit cards
- Credit card or the consumer credit
- The British bank has withdrawn 160 thousand credit cards
