Credit Suisse to cut 2,000 jobs as profits drop
Credit Suisse Group announced Thursday that it will cut more than 2,000 jobs after its second-quarter profits dropped by half, more than expected, due to a strong Swiss franc and a plunge in trading and investment banking earnings.
Swiss banking giant Credit Suisse will be cutting 500 more jobs in its investment bank division, bringing the total shed at the unit to 2,000 since the financial crisis began.