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).