According to an insider, the crisis-ridden major bank Credit Suisse wants to cut around every tenth job. The Swiss institute is aiming to cut around 5,000 jobs across the group, a person familiar with the matter told the Reuters news agency on Thursday. However, no final decision has been made so that the number of cuts can still change. At mid-year the bank employed a total of 51,410 people. The job cuts are part of the austerity program announced in July. Credit Suisse stated, “We have previously said that we will be sharing detailed information on the progress of our comprehensive strategy review along with the third quarter results.” These are scheduled for October 27th. On the stock exchange, Credit Suisse shares, which had already lost around 43 percent in value so far this year, were down 3.6 percent on Thursday shortly before the close of trading.
Credit Suisse – 5000 jobs on the brink – Economy
