Business World

Monday 11 December 2017

Credit Suisse profits up but jobs to go

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.

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