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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.

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Bloomberg broke the news in United States on Thursday, October 27, 2022.
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