The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
650 jobs Number of planned job losses
Announcement Date
4 December 2008
Employment effect (start)
4 December 2008
Foreseen end date
30 June 2009
Description
Credit Suisse has announced that it is to cut at least 650 jobs at its office in London.This total could rise higher as the company intends to cut 3,500 jobs across its investment banking division, which is based mainly in New York and London. Credit Suisse employs 48000 people worldwide, although it is not known how many of these are employed in their London office.The company attributed the cut to current economic conditions. The job cuts will be made in the first half of 2009.
Sources
4 December 2008: The Guardian
4 December 2008: Financial Times
4 December 2008: BBC News
Citation
Eurofound (2008), Credit Suisse, Internal restructuring in United Kingdom, factsheet number 67567, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67567.
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