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Credit Suisse to cut 650 jobs

Credit Suisse is cutting 650 jobs, mainly in investment banking, it said on Tuesday.


A spokesman for the Swiss-based bank said an announcement on the cuts had been made to its staff on Monday but declined to give any further details. The cuts are the latest in a wave of job losses in the financial sector in which around 90,000 jobs have been axed since September.

The Financial Times reported on Tuesday that HSBC plans to cut its UK workforce by about 500 at its headquarters in Canary Wharf and at other locations following a review of its business. (Reuters)