Credit Suisse Job Cuts are Causing Unrest: Credit Suisse is not undergoing its first restructuring. When entire divisions are restructured, projects are stopped, and regional focuses shift, the staff takes notice… creditsuisse jobscuts personellchange
When a company announces a transformation and job cuts, the understandable result is unrest and uncertainty among the workforce. For some employees, it is the impetus and incentive to test their value outside the company and look for alternatives.
The moves are not limited to the bank's home market. The CEO for Greater China, Carsten Stoehr, left the bank after 25 years. He was also chairman of the board of Credit Suisse in Hong Kong. In Italy, country head Andrea Donzelli is moving to US financial services provider Jefferies Financial, according to media reports.To be sure, individual personnel changes are by no means evidence of a trend. In a company as big as Credit Suisse, there are changes and fluctuations daily.
The bank emphasizes that staff will also be reduced through natural attrition, not filling vacant positions or offering early retirement. But redundancies are also likely to occur.Credit Suisse already has experience with this. In the first round, scheduled for the end of the year, employees whose jobs will be eliminated have likely been informed by now.
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