trending Market Intelligence /marketintelligence/en/news-insights/trending/sgW4sI7_-gM9XCHXAlch8g2 content esgSubNav
In This List

Report: Credit Suisse to cut 1,500 jobs in London

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines

Blog

Making sanctions effective: Key themes for banks


Report: Credit Suisse to cut 1,500 jobs in London

Credit Suisse Group AG will cut 1,500 jobs in London by 2018-end, Reuters reported June 8, citing "a person familiar with the matter."

The Swiss bank struggled to make a profit from its London operations because of high bonuses and the cost of doing business in the British capital, an unnamed Credit Suisse executive told the newswire, adding that Brexit encouraged the lender to take action.

The bank previously employed over 9,000 staff and contractors in London before it started cutting jobs there, with the planned job cuts reported by Reuters taking the headcount to about 5,000.