Switzerland -Restructuring at Credit Suisse leads to massive job losses -October 21, 2015

The chief executive of Credit Suisse has announced a new strategy of the bank that will axe thousands of jobs and raise billions in fresh capital. The bank aims to save 3.5 billion Swiss francs (3.2 billion euro) by the end of 2018 by, among other things, cutting loose a significant number of the some 60,000 people it employs globally. In all, some 5,000 jobs are likely to be cut worldwide, including 1,600 in Switzerland.

English: http://www.thelocal.ch/20151021/credit-suisse-announces-5000-job-cuts  

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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