Credit Suisse cuts 8 jobs to go in Guernsey

by GD Tue 02 Dec 2008, 9:06 am

Credit Suisse has written off billions in bad loans

Troubled Swiss banking giant Credit Suisse has confirmed that it will cut 650 jobs from its UK workforce.
The bank has has struggled since the onset of the financial crisis and has been forced to write off assets worth billions owing to bad loans.
It made a loss in the third quarter of this year of 1.26bn Swiss francs (£704m;$1.05bn) compared with a profit of 1.3bn a year earlier.
The bank blamed "market conditions" for the 10% cut in its UK workforce.
HSBC bank confirmed on Monday that it was cutting 500 jobs across the UK. (from BBC News)

by GD Thu 11 Dec 2008, 5:21 pm

It has been announced that 8 jobs are to go in Guernsey

Credit Suisse cuts 8 jobs to go in Guernsey

Credit Suisse cuts 8 jobs to go in Guernsey

Re: Credit Suisse cuts 8 jobs to go in Guernsey