Bloomberg News reports that about 130 employees lost their jobs in the global markets unit, including as many as 50 in equities and about 80 in the fixed-income business, said one of the people, who declined to be identified. The person said the remaining cuts occurred across support functions like information technology and human resources. Another person said the bank plans a further round of job cuts next month.
A spokeswoman for the bank in Zurich, Anuschka Ross, declined to comment. Credit Suisse had said it would eliminate 6,000 jobs globally this year, with 3,200 still to go as of March 23.
The bank is downsizing its securities unit as part of an overhaul shifting its focus to wealth management. Chief Executive Officer Tidjane Thiam was forced to deepen his restructuring plans in March, after a tumultuous start to the year showed that the bank was still too vulnerable to market risks.
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