Credit Suisse: the 3000+ job cut news, who should start worrying?
Hey guys, CS has been really struggling due to recent losses, wanted to know who should start worrying? I've only joined recently.
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can't really do much except sit tight. Bank has said they will outline cuts when Q3 earnings drop (oct 23 i think). Some sources say ~5000 job cuts others say ~3,200 and some say as little as 500. Most likely just speculating until they officially say in late october
Can you drop links?
I wouldn’t worry about it from a IBD perspective, especially if you’re an analyst. The majority of the cuts will be in fixed income and exotic S&T groups, with some cuts across capital markets groups (lev fin, ecm). Traditional coverage groups and M&A should be relatively insulated
Tough look for their FIG team when management hired CVP lmao
Not really, as they are probably seeking some neutral advice. Most players in the industry are going for outside advice if it’s about the own firm
Just lateral dude..
"Goldman Sachs & Co. LLC is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Goldman Sachs."
"J.P. Morgan was advised by J.P. Morgan Securities, LLC as financial advisor and Freshfields Bruckhaus Deringer LLP and McCann FitzGerald LLP as legal counsel."
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