The Swiss lender is planning to cut around half of its investment banking workforce in EMEA, according to a media report.
Credit Suisse is cutting its EMEA investment banking workforce by 450, online outlet «fnlondon» (behind paywall) reported Friday, citing people familiar.
The bank’s European operations will be taking a big hit as the Swiss bank prepares to reduce headcount from the 900 jobs in its investment bank. The cuts are part of the bank's overall restructuring, which involves slashing 2,700 roles across the bank before the end of 2022.
Staff working in Credit Suisse's investment banking and markets businesses in Europe, the Middle East, and Africa will be affected, people familiar with the matter told the outlet.
Credit Suisse referred to its statement from its new strategy and transformation plan presented on October 27, without mentioning specific cuts within the EMEA investment bank, when asked for comment by finews.com.
