Credit Suisse shedding 5,300 jobs after loss

From Alysen Miller
CNN

(CNN) -- Credit Suisse will cut 5,300 jobs -- about 11 percent of its workforce -- following a net loss of about 3 billion Swiss francs ($2.5 billion) in October and November, the Swiss bank announced Thursday.

Most of the cuts will come from its investment banking division, the company said.

Credit Suisse has already cut 1,800 jobs so far this year.

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