British Broadcasting Corporation

watch One-Minute World News

News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
Market Data
Economy
Companies
Health
Science & Environment
Technology
Entertainment
Also in the news
-----------------
Video and Audio
-----------------
Programmes
Have Your Say
In Pictures
Country Profiles
Special Reports

Related BBC sites
Page last updated at 23:57 GMT, Monday, 1 December 2008
E-mail this to a friend Printable version

Credit Suisse cuts 650 jobs in UK

Credit Suisse building in Zurich
Credit Suisse has written off billions in bad loans

Troubled Swiss banking giant Credit Suisse has confirmed that it will cut 650 jobs from its UK workforce.

The bank has has struggled since the onset of the financial crisis and has been forced to write off assets worth billions owing to bad loans.

It made a loss in the third quarter of this year of 1.26bn Swiss francs (£704m;$1.05bn) compared with a profit of 1.3bn a year earlier.

The bank blamed "market conditions" for the 10% cut in its UK workforce.

HSBC bank confirmed on Monday that it was cutting 500 jobs across the UK.

E-mail this to a friend Printable version

Print Sponsor

GLOBAL RECESSION
LATEST NEWS
G20 vows to spur fragile growth
Extra £25bn for UK economy
Eurozone rates unchanged
Iceland interest rates cut to 11%
US interest rates left unchanged
BACKGROUND AND ANALYSIS
Reform IMF voting powers Pledge by pledge
Are the G20 leaders keeping their promises?
Will tough new G20 measures work?
Are we on the brink of a new world order?
Summit protesters lack focus
CRISIS ESSENTIALS
G20 countries compared - deficits and stimulus packages G20 map
Stimuli and deficits: Who has spent the most?
G20: Economic summit snapshot
Country-by-country: Bonus reform
Where $11tn bail-out was spent
How the financial crisis unfolded
HAVE YOUR SAY
Your three words In three words...
Tell us what you think the year ahead holds for you
Can leaders solve the financial crisis?
VIDEO REPORTS
Alistair Darling G20 'focus is on future growth'

President Obama Obama cautious about US recovery

Newspaper front page Pain of joblessness in US state

Vanessa Rossi and Anthony Scaramucci Expert opinion: Is the recession ending?


RELATED INTERNET LINKS
Credit Suisse
The BBC is not responsible for the content of external internet sites

TOP BUSINESS STORIES
Cadbury awaits latest Kraft move
Free market flawed, says survey
China pledges $10bn Africa loans

FEATURES, VIEWS, ANALYSIS
People storm the Berlin Wall in Nov 1989 Unforgettable day
Reporter recalls the evening the Berlin Wall came down
A black and white picture of John Henry Smythe looking through a camera. Freedom fighters
The Africans who fought the Nazis - and colonialism
Prince Harry at the Remembrance Sunday service at the Cenotaph In pictures
Remembrance services from UK and Afghanistan

Skip to top

PRODUCTS & SERVICES

Explore the BBC

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.
Americas Africa Europe Middle East South Asia Asia Pacific