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Credit Suisse cuts workforce by 3%

Published 02/11/2011

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.

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