The Post reports that the marginally more successful, slightly less tax-evading Swiss bank in town plans to distribute a handful of pink slips in investment banking, probably around the time it mentions a sizable writedown with its second quarter earnings, though the "exact timing could not be learned." The cuts are said to cover high-yield sales and trading as well as leveraged loans, and hack away at "muscle, not just fat."
CREDIT SUISSE HEADS BACK TO THE CHOPPING BLOCK [NYP]