Credit Suisse cuts workforce by 3%
Published 02/11/2011 | 08:00
Credit Suisse Group is to cut 3% of its staff after weak third-quarter net profits of 683m Swiss francs (£480m).
The bank's earnings follow weak reports across the banking industry due to low trading activity. Analysts had predicted Switzerland's second-biggest bank to report earnings of almost 900m francs (£632m) this quarter.