Credit Suisse To Announce A Massive Wave Of Cuts Tomorrow In London And US Offices

Credit Suisse layoffs

Credit Suisse will announce tomorrow a massive wave of job cuts expected to hit the U.S. and London, Reuters reported citing a Swiss newspaper.

The latest round of cuts will eliminate an additional 1,000 positions, the report said. 

The divisions that will be affected by the latest cuts are the investment bank in both London and the U.S. as well as the wealth management business, the report said. 

Back in July, Credit Suisse said it would cut 2,000 as part of its cost-cutting measures.

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