Credit Suisse Group AG is planning to axe more than 2,000 jobs and amplify reductions at the investment bank.
The move was announced five months following Chief Executive Tidjane Thiam revealed the Swiss lender would be overhauled.
Under the plan, the financial services company would reduce risk-weighted assets in international markets to approximately $60 billion this year.
Credit Suisse is projecting 6,000 job eliminations this year, recording gross savings of 1.5 billion francs ($1.7 billion).
Thiam is also aiming to boost shares, which has slumped 41% since he unveiled the revamp plans last October.
The material has been provided by InstaForex Company – www.instaforex.com