London faces a wave of job losses after the new boss of Credit Suisse set out plans to cut 9,000 roles across the bank.
Chief executive Ulrich Körner said “nobody takes it lightly” as the bank revealed it would lower its headcount of full-time employees around the world from 52,000 to about 43,000 by the end of 2025, as part of a drastic restructuring of the group.
Körner declined to say how many roles would be lost from its operations in London.
However, the group has a big presence in Canary Wharf, employing about 5,500 staff at 1 Cabot Square, E14. Much of the business it does in London is centred on investment banking, which is a main focus of the new CEO’s overhaul.
