Credit Suisse

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
500 jobs
Number of planned job losses
Job loss
Announcement Date
25 January 2008
Employment effect (start)
Foreseen end date

Description

Credit Suisse Group is set to cut 500 jobs from its investment banking arm. The move comes after the global lending crisis slowed demand for some of the services on offer. The investment banking division saw returns falling from US $653m to $5.1m last year largely as a result of the 'subprime' mortgage crisis in the United States.

Sources

  • 25 January 2008: BBC Website

Citation

Eurofound (2008), Credit Suisse, Internal restructuring in World, factsheet number 66232, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66232.