Job Seeker Blog - Spark Hire

Credit Suisse likely to drop 1,000 Jobs

According to the Wall Street Journal, the Swiss financial services group Credit Suisse is likely to drop 1,000 jobs this month after they release their Q3 earnings today.

Earlier this year, the financial group announced that they had to cut 2,000 jobs due to poor earnings. WestLB analyst Georg Kanders was quoted saying, “Credit Suisse had very weak origination figures both on debt and equities (in Q3). Debt issuance volumes fell 50% and equity issuance volumes by two-thirds against already weak second-quarter numbers.”

At the same time, investment bank FBR is set to cut 100 jobs from the 420 that it currently has. Fox Business’s Charlie Gasparino reported that the middle market investment bank posted a $26.1 million loss in quarter three.

SOURCE
: Wall Street Journal

Nicole Nicholson

Nicole is the Content Editor for Spark Hire and mainly writes for and edits the work for the Spark News blog. She graduated in 2010 with a BA in Journalism from DePaul University in Chicago, Illinois. She has a passion for writing, editing, and pretty much anything to do with content. In her free time she frequents the Chicago music scene and writes reviews on shows for her own personal blog. Connect with Nicole and Spark Hire on Facebook and Twitter