Credit Suisse Workers Encouraged To Seek Employment Elsewhere


A bunch of first years in Credit Suisse’s financial sponsors group—who supposedly haven't yet received their bonuses—were told today it’d be in everyone’s best interest if they stopped showing up to the office, circa now. Not technically laid off (that actually would’ve been more humane, cause at least it would mean a few well-deserved weeks of sleeping late and self-pity), the options offered to the Little Dougans were a. Get a job somewhere else b. Work back office for Credit Suisse outside the U.S. Either way, they can kiss their ridiculously short walk to the Shake Shack good bye, unless of course they’re planning on going with option A, and putting resumes in at the new, year-round Shack on the Upper West Side, which is now hiring.


Layoffs Watch: Credit Suisse

The House Of Dougan has apparently said Do svidaniya to a handful of comrades.

Layoffs Watch '13: Credit Suisse

More cuts a-comin' for the House of Dougan.

Layoffs Watch '12: Credit Suisse

While Brady Dougan is keeping his job, the same cannot be said for 1/3 of European investment bankers. Credit Suisse is to cut senior staff in its European investment banking department by up to a third, three sources familiar with the matter said, as tighter regulation and weak markets hit the sector. "In the European investment banking business, they are going to get rid of 60 directors and managing directors," one source said on Monday. The investment banking department affected advises on mergers and acquisitions, stock market listings, financing and debt issues, as opposed to other areas of the broader investment bank that focus on securities trading. "It is about a third of the directors and 10-15 percent of the MDs," the first source said, referring to what are typically two most senior job ranks in the banking world. The layoffs would happen in July, this person said. The formal redundancy process can last several months. A second source said the cuts could end up affecting 20-30 percent of senior investment banking staff in Europe. Credit Suisse To Make Heavy Job Cuts In Europe [Reuters]