Credit Suisse may shed staff

Credit Suisse may announce the loss of up to 5,000 jobs in its investment banking business at its forthcoming first-quarter results.

A Swiss newspaper report cited an estimate from a member of senior management, who said the investment bank was “simply completely oversized”.

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Credit Suisse reports on 25 April. The group ended 2011 with 20,900 investment bankers, 200 up over the year.

The Zurich-based bank has faced shareholder criticism about the size and the cost of its investment arm.