Credit Suisse Announces Further Cost Cuts Amid Anticipated Job Losses

[kreslik.news]

Earlier this year, Credit Suisse announced that it would be accelerating its cost cutting efforts after FY2015’s disappointing results. The Swiss lender laid out plans to restructure its businessin order to return to profitability after losing close to $3 billion and revealed that it was seeking to increase its cost cutting efforts by around $820 million.

At the time, Credit Suisse also revealed that the consolidation process of its Global Markets division would include a consolidation of the FX Cash and FX Options businesses into the STS operations of Credit Suisse, which are part of the Swiss Universal Bank.

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