Credit Suisse plans to cut another 2,000 jobs this year, in addition to the 4,000 job losses it has already announced, with most of the cuts coming at its investment bank operations in London’s Canary Wharf.
Chief executive Tidjane Thiam said the bank expected to report a loss in Q1.
The bank is targeting savings of SFr1bn by the end of this year, and is now aiming for savings of SFr4.5bn by the end of 2018, up from a previous target of SFr3.8bn. It plans to raise SFr1bn through the sale of real estate and other assets.
