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Reports Of Job Cuts Are Old News Says Credit Suisse

Robbie Lawther

12 June 2017

 has claimed recent media reports that it will cut 1,500 jobs in London by the end of next year is old news, WealthBriefing understands.

A spokesperson from Credit Suisse said the bank has said it will cut jobs from 6,000 which are based in London, but this is a plan that has been in action since 2015.

The job cuts are part of the bank’s efforts to cut costs to its operations globally, but these plans were put in place before the vote for Britain to leave the European Union.

There has been a range of different companies that have said they may reduce the number of staff in London if the Brexit negotiations do not 

WealthBriefing reported in February that the firm’s chief executive Tidjane Thiam was continuing to drive cost cutting efforts, place less emphasis on investment banking and shift the group's business strategy more towards wealth management.