DEALBREAKER BREAKING NEWS: Credit Suisse Cost Cutting: Buyside US Hiring Freeze? - Dealbreaker

DEALBREAKER BREAKING NEWS: Credit Suisse Cost Cutting: Buyside US Hiring Freeze?

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Even as analysts say that many Wall Street firms are hiring in an attempt to add more depth to their still post-bubble-bust-depleted ranks, buyside bankers at Credit Suisse's received a memorandum today announcing a hiring freeze in the US, according to a source at the Swiss bank.
Buyside bankers at Credit Suisse were told there were to be no more US hires without approval of the management committee, the source said.
“Of course, the fucking Swiss are coming over here by the boatload,” the source said.
Credit Suisse is scheduling "townhall meetings" with various constituencies within the bank to discuss third-quarter results, which were quite robust despite reported trading losses.
Another source at the bank was skeptical. This source had not seen the memorandum but speculated that the "hiring freeze" may be attributable to a typical end of the year slowdown in hiring.
"If we come across talent, I'm sure we'll hire," the second source said.
The spokesperson handling internal matters at the bank could not be immediately reached for comment.

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