Swiss Banks Planning Mass Layoffs to Cut Costs
Written on July 25, 2011 by Wiley Hayden
Swiss banking giant Credit Suisse may slash up to 2,000 jobs to reduce costs, according to a Swiss newspaper.
The Neue Zuercher Zeitung (NZZ) said the will make such an announcement on Thursday, coinciding with the release of quarterly results.
Another Swiss paper, Handelszeitung, said last month that Credit Suisse was prepared to cut several hundred positions in its investment banking areas, particularly in the U.S.
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