Thousands of Credit Suisse Jobs Could be Under the Axe: Executives at Credit Suisse are said to be discussing thousands of job cuts to bring its costs under control. CreditSuisse jobcuts strategicplan
Credit Suisse executives under newly minted CEO Ulrich Koerner are said to be discussing cutting thousands of employees from its 50,000 plus strong headcount, according to a «Bloomberg» story Thursday citing people familiar with the matter.
Koerner, who was named as CEO just this week has been put in charge of a review of the bank's strategic plan which seeks to reduce costs to under 15.5 billion Swiss francs . Among the measures being discussed, according to the «Bloomberg» story, are cutting several thousand jobs over an unspecified number of years. Other measures are putting the bank's middle and back office inefficiencies under review and reshaping the investment bank.
As finews.com recently reported, details around the strategic plan were short on specifics, and a spokesman for the bank told «Bloomberg» that any reporting on outcomes before the strategy update is «entirely speculative.»If the past is indeed a prologue, there could be something to jobs being on the chopping block.
Credit Suisse has faced a raft of departures of late, including today when it was announced that a team left the bank for BNP to head the local private banking division there, as finews.com reported.
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