Skip to main content

Layoffs Watch '16: Credit Suisse Planning To Give A Bunch Of Employees The 'It's Not You It's Me' Speech

You're a great banker, but I'm just not in a place where I'm emotionally ready for your pitchbooks.
  • Author:
  • Updated:

Tidjane Thiam hopes y'all can still be friends.

Credit Suisse Group AG, Switzerland’s second-largest bank, plans to dismiss 163 workers in New York. The cuts will take place through May, the Zurich-based company said in a notice to the state Department of Labor dated Thursday. Chief Executive Officer Tidjane Thiam is shrinking the securities operation and building up wealth management in Asia amid demands from regulators to reduce risk and boost capital levels.

Credit Suisse Says It Plans to Cut 163 Workers in New York State [Bloomberg]


Layoffs Watch '15: Credit Suisse Wants You! (To Help It Cut Costs By 3.5 Billion Francs)

This is not so much a request as a requirement you're unlikely to get around, unless anyone is considering chaining themselves to their desks.

Getty Images

Layoffs Watch '16: Credit Suisse Bankers Are Girding Their Loins

The Swiss bank is said to be asking London bankers to turn in their ID badges, forever.

Layoffs Watch '15: Credit Suisse Tells Fixed Income Traders To Pack Up Their Things

Traders in London were asked to clean out their desks today.

Bonus/Layoffs Watch '15: Credit Suisse

The bad news is that big execs will be receiving tiny bonuses. The good news is that most of them will be keeping their jobs, unlike some other employees at the bank.

Layoffs Watch '16: Credit Suisse Has A Dream

And it's going to need lots of employees' help to achieve it, by boxing up their things and leaving the building (forever).