Credit Suisse’s restructuring is progressing: the big bank is closing one of every eighth branches in Switzerland. According to the job portal “finews.ch”, there will still be 95 branches by the end of February 2023. Additionally, CS will convert two more branches into consultant locations. The bank notified the affected employees on Monday. It is not yet known which offices will be affected.
CS does not provide any information on the number of jobs that will be lost as a result of shutdowns. However, as the bank has previously announced, 500 full-time jobs will be laid off in Switzerland alone by the end of the year, and 2,700 jobs worldwide by then.
(SDA/smt)
At the end of October, the bank also announced that by 2025, it will cut 9,000 of today’s 53,000 jobs and cut costs by CHF 2.5 billion. However, the decrease in the branch network is not a result of this. According to a CS spokesperson, the decision was primarily driven by the changing behavior of customers who increasingly use online and mobile offerings. Therefore, branches will be less frequent. This process is now being accelerated as part of the recently announced cost measures. (pbe/smt/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
