Credit Suisse announces 'radical' restructuring with Saudi backing
Credit Suisse will raise $4 billion to step back from Wall Street and double down on managing the finances of the world's wealthy, the scandal-plagued Swiss bank said on Thursday.
Credit Suisse announces radical restructuring, plans to cut 9,000 jobs
Swiss banking giant Credit Suisse said Thursday it will radically restructure the bank, cutting 9,000 jobs by the end of 2025 in an effort to cut heavy losses while addressing investor concerns.
Credit Suisse to Radically Restructure Investment Bank
Credit Suisse Group AG unveiled a strategic plan that will see the bank undertake a multi-billion dollar capital raise, a carve out of its investment bank and thousands of job cuts as it seeks to return to profitability. Jan-Henrick Foerster reports on Bloomberg Television. (Source: Bloomberg)