Layoffs Watch '16: Credit Suisse Plans "Significant" Cuts - Dealbreaker

Layoffs Watch '16: Credit Suisse Plans "Significant" Cuts

So...that's not great.

Apparently when your investment bank's trading revenue is expected to drop by as much as 45% compared to Q1 the previous year and there's been a "slowdown" with those damn clients''s necessary for a whole buncha employees to clean out their desks.

On Wednesday, the Zurich-based lender said it plans to more significantly reduce its trading operation, increasing the investment bank cost, job and asset cuts that it had projected last year, as it struggles to revamp its business under its recently appointed chief executive.

New Job Cuts Loom at Credit Suisse as Trading Revenue Halved [WSJ]