The other Swiss bank apparently did some bloodletting today and may have plans for more in the future.
From the mailbag:
"Cuts went down today in FID. There were also layoffs in Equities earlier this month and will likely continue if the most recent quarterly results are any indication..."
The House Of Dougan has apparently said Do svidaniya to a handful of comrades.
Cuts are going down at the House of Dougan today. From the front lines: "Layoffs started at Credit Suisse this morning, across the investment bank. All levels affected, including a good amount of senior guys." Apparently these reductions are part of a round cuts announced last year and were to be expected (though the "let's have a chat" from HR this morning may still have been a slight surprise for those being asked to take a seat).