Thread regarding Credit Suisse layoffs

Massive CS Layoffs 2021 - 2022 Expected

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 fund

https://www.cnbc.com/2021/03/29/credit-suisse-exits-positions-with-hedge-fund-warns-of-losses.html?__source=androidappshare

Yes, I was an employee 1 month ago!

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Post ID: @OP+1a6Ozabd

13 replies (most recent on top)

Credit Suisse not much needs to be said. Losing a lot of taken unfortunately due to bad pay

eFinancialCareers: Credit Suisse is bereft of 2 traders who generated $450m in PnL.
https://www.efinancialcareers.com/news/2021/07/credit-suisse-top-traders-leaving

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Post ID: @1Vnfe+1a6Ozabd

The most layoffs happened in 2016, that will be hard to beat!?

A headhunter got to me before CS could lay me off and I got paid 40% more in an IT job. I'm very happy I left.

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Post ID: @1Oenm+1a6Ozabd

It was once a wonderful bank. Recent years, it has been in a major decline while others in it's industry thrive.

At this time, it's a good bank to get some experience for some year and get a higher paying job elsewhere.

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Post ID: @1Bwke+1a6Ozabd

Not sure about some of the comments but, Credit Suisse is a good place. Nothing is perfect but overall it's a good place to work.

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Post ID: @13spb+1a6Ozabd

What they really mean here is favorites, not top performers.

eFinancialCareers: Credit Suisse is contemplating retention bonuses.
https://www.efinancialcareers.com/news/2021/05/retention-bonuses-credit-suisse

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Post ID: @Sgdx+1a6Ozabd

This company is finally starting to expose its true colors and what happens on the underbelly of the monster. They promote great benefits but you are unable to use them, compensation is terrible, favoritism is popular, and its a culture built upon back stabbing and scratching each others backs

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Post ID: @Rawg+1a6Ozabd

Not massive… Credit Susie just wants to exit the United States… the exit plan has been in place for awhile now….

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Post ID: @Qbzz+1a6Ozabd

Credit Susie sold half the bank to Wells Fargo in 2016 then laid off half the investment bank arm 3 months later. This is not massive compared to 2016. I am shocked people people actually stayed after 2016….. seems like people that thought the were so important are just regular people after all

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Post ID: @Lelb+1a6Ozabd

This is fairly accurate and in fact, I felt discriminated against as I outperformed my other co-workers and the favoritism really started to show. Needless to know, I left this company after 4 years as an AVP and sought work elsewhere.

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Post ID: @Drdj+1a6Ozabd

Yesterday, was my last day as a VP in London in Global Markets. I'd been at the firm for 10 years and decided I had my final straw.

The IT organization in Global Markets is performing in the worst possible ways under this recently hired management in recent years, and SHE (THE MD) is not good.

No bonuses or compensation for a lot of my staff and I just couldn't be a good manager because mine was not good.

Good luck to you all! I'm now happy waiting to begin my next journey.

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Post ID: @nepl+1a6Ozabd

Boom! This company has lost its way. Not compensating employees is guaranteed failure! They only gave junior bankers a 20k lifestyle bump but ignored everybody else.

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Post ID: @agah+1a6Ozabd

Massive? Will it compare to the 2016 layoffs - No. anyone who stayed at CS after 2016 is an id–t and deserve everything they get! If you are too dumb to notice a dying company just die with it!

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Post ID: @8kzm+1a6Ozabd

I worked out New York about two weeks ago as a VP in IT Global Markets until I got laid off!

My bosses boss, she has had a terrible strategy since day one! She decided not to gives bonuses or pay raises to most employees but talking to others the favorites got massive raises and bonuses.

Luckily I can walk across the street and am looking to get a 30% bump.

Doesn't surprise me their suffering.

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Post ID: @8qat+1a6Ozabd

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