Credit Suisse is reportedly going to cut between 5,500 and 6,500 jobs this year, as CEO Tidjane Thiam looks to restructure in the wake of the bank's CHF2.44bn ($2.44 billion Swiss franc) loss in 2016. The bank has not specified where job losses will occur, but said that they would include contractors, consultants and staff. These cuts follow the loss of 7,250 jobs in 2016, and would progress the bank towards its cost-reduction target for 2018.
Credit Suisse is reportedly going to cut between 5,500 and 6,500 jobs this year, as CEO Tidjane Thiam looks to restructure in the wake of the bank's CHF2.44bn ($2.43bn) loss in 2016. The bank has not specified where job losses will occur, but said that they would include contractors, consultants and staff. These cuts follow the loss of 7,250 jobs in 2016, and would progress the bank towards its cost-reduction target for 2018.