Credit Suisse announces radical restructuring, plans to cut 9,000 jobs

Summary by Ground News

The bank is seeking $4 billion in new financing, including $1.5 billion from the Saudi National Bank. The bank's full-time workforce will go from 52,000 to 43,000 by the end of 2025. Credit Suisse has been troubled by both heavy losses and scandals.

Published 3 months ago

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CNN

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.

3 months ago·Atlanta, United States

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UPI

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.

3 months ago·Washington, United States

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Sueddeutsche Zeitung

Credit Suisse is radically restructuring

Job cuts, separation of businesses, capital increase: Credit Suisse aims to overcome its crises with a massive restructuring.

3 months ago·Munich, Germany

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Bloomberg

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)

3 months ago·United States

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Gwinnett Daily Post

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.

3 months ago

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Bloomberg Línea Brasil

Radical reform at Credit Suisse

Also on Breakfast: Markets pay attention to US GDP and European interest rates; Earth on track to get almost 3ºC warmer with insufficient government plans and inflation will affect beer consumption

3 months ago

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