UBS CEO Sergio Ermotti doesn't agree. “It is crystal clear: this situation at Credit Suisse didn’t develop in the last six weeks or months, but in the last six, seven years,” he said at the weekend. The disintegration of Credit Suisse was a slow... — read more
People will need to be open minded in order to get a new role. ===> https://www.youtube.com/watch?v=8RfYHnuhN7Q
I simply don't understand those who ignore the fact that the warning of a collapse in the banking sector has been around for a long, long time... The warning was very obvious, wasn't it?
UBS reaches agreement to buy Credit Suisse after upping offer UBS is taking over Credit Suisse even after Credit Suisse received a $54 billion financial lifeline from the Swiss National Bank to bolster its liquidity last week. UBS said it... — read more
Coming with majority in the RTP location. Very sad news.
Even as financial markets across the world, particularly in the US, are still reeling under the collapse of Silicon Valley Bank and Signature Bank, a noted Wall Street analyst has predicted which bank is likely to collapse next. Robert Kiyosaki... — read more
2009: Fined $536 million for bypassing US sanctions 2014: Fined $2.6 billion for evading US taxes 2021: Lost $5.5 billion due to risky exposure to Archegos fund failure 2021: Froze $10 billon in funds due to Greensill collapse 2022:... — read more
Following a series of scandals that led to extraordinary customer withdrawals, Credit Suisse posted its worst yearly loss since the financial meltdown of 2008 and warned of further "substantial" losses this... — read more
Anyone would care to chime in with a prediction about potential Credit Suisse layoffs? Any chatter, news or rumors?
And welcome to the educated underclass... https://www.highereducationinquirer.org/2020/05/lets-all-pretend-we-couldnt-see-it.html
"Under the terms of the proposed transaction, investment vehicles managed by affiliates of Apollo and PIMCO would acquire the majority of SPG’s assets and other related financing businesses from Credit Suisse, form a new platform to enter into an... — read more
"Markets should brace for a period of decline that echoes crashes of the 1970s and 2008, according to Nouriel Roubini." https://markets.businessinsider.com/news/stocks/dr-doom-nouriel-roubini-2008-financial-crisis-stagflation-market-crash-2022-10 — read more
The latest issues are bringing on the possibility of more layoffs. It seems investment banking and wealth management are among the areas that are going to be hit. It's not clear enough how many of the layoffs will be in the U.S., but I will admit... — read more
Heard bonuses will be clawed back if staff is to leave within a year.
Credit Suisse has already hired many Chinese and is tripling their workforce in Mainland China. Internally, we've already seen many functions already being replaced with Chinese counterparts or are in the process of beginning to do so. Additionally... — read more
Will there be any Credit Suisse layoffs? Any chatter, news or rumors?
Insider information... Jobs beginning to be outsourced to China....IT/Business/ all of it! Keep an eye on the news it's only getting worst. Banks warn of 'significant' losses as they exit positions with large U.S. hedge... — read more
What's your prediction as it relates to the possiblity of Credit Suisse Layoffs 2021? Any news or rumors?
... the funds or detail the extent of the layoffs. Credit Suisse Group AG Chief Executive Officer Tidjane Thiam Presents Second-Quarter Earnings. David... — read more
Risk and Compliance departments merged so layoffs are happening since July. New York jobs moving to Raleigh NC too.
Layoffs have begun for compliance and risk professionals in the New York office.
Just got out of a team meeting. Our Managing director was given his notice this morning. Manager informed us that cuts will be made across the board Starting with Americas, London...followed by Switzerland and Rest of the World later in the year. — read more
Credit Suisse Is Preparing For Layoffs As CEO Admits "Something" Needs To Change Source below... Credit Suisse is leading the charge, revealing this week that the investment bank will need less employees on the other side of the coronavirus... — read more
What are your thoguhts?
Nothing in Phoenix SHOC so far. I did notice execs admins are already in the building though which is out of the ordinary.
My best friend was laid off a few weeks ago, at their Raleigh office. They received a WARN Notice and a very vague explanation about the termination. Due to the sensitivity of it, they were not even allowed to tell anyone at their job what happened... — read more
They keep denying it, at this point Credit Suisse HR the Comms team are on the defense. I think we'll se a few hundred folks cut and there will be more jobs that will be shipped overseas. Just watch it, I do not believe these PR stunts any more... — read more
More rounds are coming, mostly for the large centres (NY, London, Zurich) but definitely everywhere. Also more and more jobs moving from everywhere to Poland. Everywhere, even lost cost locations.
Job cuts later this year in Zurich.
...but not much worse. http://www.wsj.com/articles/barclays-cut-in-half-as-europe-slims-down-on-wall-street-1470250141
That's it. The whole sector is hurting.
Things are not that good - also, in IT, more jobs to be sent off-shore
Things continue to go down the drain, fixed income to be hammered, if we hit a recession we may see many more layoffs - UBS just finished another back office cut round and BAC is laying off too on the Investment Banking side - overall, it does not... — read more