The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
150 jobs Number of planned job losses
Announcement Date
25 January 2008
Employment effect (start)
Foreseen end date
Description
Credit Suisse Group is set to cut 150 jobs from its investment banking arm in the UK. These losses form part of the 500 job cuts that the company is making internationally. The move comes after the global lending crisis slowed demand for some of the services on offer. The investment banking division saw returns falling from US$653m to $5.1m last year largely as a result of the 'subprime' mortgage crisis in the United States.
Sources
25 January 2008: BBC Website
Citation
Eurofound (2008), Credit Suisse, Internal restructuring in United Kingdom, factsheet number 66233, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66233.
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