• 26 Nov 2012 at 4:10 PM

Layoffs Watch ’12: Credit Suisse

Cuts are expected to go down at the House Of BD.

Credit Suisse is eliminating 100 jobs at its investment banking operation in Britain as part of a cost-cutting program, according to a person with direct knowledge of the plan. The job cuts affect Credit Suisse’s equities and fixed-income divisions, said the person, who declined to be identified because the plan was not public. The step is part of the bank’s continuing $4.3 billion cost-reduction program.

[Dealbook]

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Comments (16)

  1. Posted by Guesr | November 26, 2012 at 4:19 PM

    Getting to $4.3 billion 100 people at a time. I hope they are starting at the top

  2. Posted by CS HR | November 26, 2012 at 4:26 PM

    Well we did our best. Problem is, everyone here seems to think of themselves at the bottom.

  3. Posted by Fashionista Guest | November 26, 2012 at 4:28 PM

    So all tops, no bottoms ?

  4. Posted by Cerrado | November 26, 2012 at 4:49 PM

    Is that a gay joke?

  5. Posted by oki | November 26, 2012 at 5:41 PM

    Whats the average employee at CS get paid out in comp/support, ~400k? So another 10,000 employees to go and they are there

  6. Posted by GS Regality Analyst | November 26, 2012 at 6:23 PM

    Definitely not looking to regal in that pic.

  7. Posted by jokeseeker | November 26, 2012 at 6:35 PM

    Where are the UBS jokes?

  8. Posted by contango | November 26, 2012 at 8:00 PM

    You must be one of those SUNY-Binghamton back office types

  9. Posted by jokeseeker | November 26, 2012 at 9:06 PM

    You must be one of those cash traders who's fearing for your job.

  10. Posted by brady dougan | November 26, 2012 at 11:05 PM

    hey when is the next storm to move out the head of equities
    bob jain

  11. Posted by Thomas Jordan, SNB | November 27, 2012 at 5:52 AM

    I think firing Brady Dougan would achieve significantly better cost savings and more improvement within CS.

  12. Posted by Fixed It For You | November 27, 2012 at 8:25 AM

    *SUNY-Plattsburgh

  13. Posted by Guest | November 27, 2012 at 8:27 AM

    A client once asked what outside research we use and I said "Credit Suisse" and he thought I said "Craig's List"

  14. Posted by Guest | November 27, 2012 at 8:50 PM

    No, contango was correct.

    – J. Mack

  15. Posted by brady dougan | November 28, 2012 at 10:45 PM

    hey firing me wont solve anything, I was frank quatrones boss

  16. Posted by brady dougan | November 28, 2012 at 10:49 PM

    and bobby was a flaming ferarri
    and george was myhead of equities despite being banned from trading
    makessens right