Credit Suisse is planning to cut up to 500 jobs at its private bank as part of a multi-billion euro cost saving effort, according to media reports.
Hans-Ulrich Meister, the co-head of Credit Suisse’s private bank, is eyeing to cut 250 jobs in Switzerland, and the remaining job cuts being from across the world. The bank is believed to specify which positions will be affected later this week.
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With no confirmation of the report, a Credit Suisse spokesperson said: "Credit Suisse has been working on efficiency measures for some time." Credit Suisse aims to save 3.7bn ($5.1bn) by 2015.
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