Credit Suisse Weighs Hundreds of Job Cuts to Reduce Costs
- Swiss bank is said to be considering cuts as soon as this year
- CEO Tidjane Thiam has pledged to further drive down expenses
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Credit Suisse Group AG is considering hundreds of job cuts as Chief Executive Officer Tidjane Thiam’s drive to reduce expenses extends into a fourth year, according to people with knowledge of the matter.
The dismissals could start as soon as this year and help the bank achieve its 2019 expense targets, the people said, asking not to be identified discussing private information. The Zurich-based bank’s International Wealth Management business and Swiss Universal Bank may be among the businesses affected by the cuts, the people said.