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”.

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.