Cuts are said to be going down circa now at the Swiss bank. Sales and Trading was Tuesday and Wednesday.
“Layoffs in Credit Suisse Research happening today, all levels. Unclear how many have been affected so far.”
bummers, Credit Suisse, it's Layoffs Day on Dealbreaker, Layoffs
Caption contest anyone…?
I hope that entire shitbox goes under.
-Callous in Cos Cob
Im guessing NY office?
You know, our new Credit Suisse sales guy called maybe 10 months ago, chatted me up, wanted to start a trading relationship. Meanwhile, all the news that they're going to shrink happens. They invite us to conferences, we don't go, then the sales guy gets upset, why aren't we doing business through them. Why don't they understand that if you're going to cut research, if you're not going to be around in a year, we're not going to send commissions to a doomed relationship?
And then the companies wonder, when they announce that they're slashing research or sales, why business continues to do badly. It's because no one wants to invest in something when they have limited commission dollars to parcel out.
– Not SAC
So what is going to happen with the cafeteria now that they are so few employees?
On a more positive note – there will be free coupon available to support our Swiss home company of Nestle. Respected employees can redeem the coupon in cafeteria for a butter finger or Nerds. While supplies last. Some restrictions apply. See cafeteria for details.
At what point will the banks figure out that we do less business because they give us no reason to pay them. Anyone worth a shit on the sell side is being replaced with a 24 yr old that has roommates.
-guy that knows what LTC stands for.
I would like to remind my American friends ,that we have subsidised your loss making operations for
too long , no more..we were wrong , you were a waste of of money and time and made no
contribution to our bottom line so go take a hike and we wont miss you…..happy whinging, thats the
only thing you are good at…………………………..from switzerland
Very informrative, thank you. Now I can go to bed and sleep weel.
Dont worry Timmy O'H will make it better soon. There is still 1 billion worth of value left in dlj that will keep the lights bright for some 2 or 3 years. At least for the old guard in ny.
Laxbro's its just the job not your joystick.
Sounds like the research team is beign eaten by LOCUSt.
UBS buy-side analytics quant.
what exactly would you say you do around here?
So happy I don't work there anymore
With " Managers" like PhilVasan "all vaporwhare spreadsheets no clients " no wonder why it is vanishing
No worries he still has a job although my former department P&L is halved 4 yrs after this moron took over
Bonus Watch ’16: Credit Suisse CEOs
Like many a Credit Suisse employee, Thiam will see his bonus chopped (though in his case the slashing is voluntary).