Credit Suisse profits up but jobs to go
Published 01/11/2011 | 09:19
BANKING giant Credit Suisse said its third-quarter net profit rose 12pc from a year ago to 683 million Francs (€562m), but said it would cut staff by 3pc.
As the Swiss group employed 50,700 people at the end of September, its latest cost-cutting programme would see a reduction of about 1,500 jobs.
The group did not specify the departments targetted for cuts, but said it hoped to save 800 million francs by 2013 from the reductions.