Switzerland - More job cuts at Credit Suisse - March 31, 2016

A further restructuring will lead to serious job cuts at the bank Credit Suisse, after the serious job cuts already announced in the autumn of 2015 (see our October Newsletter). The management said the problems with the investment bank’s debt-trading operation became apparent only after the October strategy announcement. About 2,000 jobs will be cut in the trading, or global-markets unit (a substantial part of the cuts is planned in London and New York). Together with previously announced cuts, that brings the bank’s total planned job cuts to 6,000. About 2,800 already have been implemented. Credit Suisse has about 48,000 employees, with roughly 11,000 in global markets.

English: http://www.wsj.com/articles/credit-suisse-ramps-up-restructuring …  

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, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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