What Big Banks Are Cutting Jobs?
Credit Suisse (NYSE:CS), Barclays (NYSE:BCS), and Goldman Sachs (NYSE:GS) all plan to make staffing cuts in efforts to save money as they face a rough economy and costly mortgage litigation. Credit Suisse plans to cut 600 jobs in the U.S. and U.K, including 40 managing directors at its investment bank in Europe, while Barclays plans to cut 100 jobs this month, to be followed in January with 600 more cuts. Goldman Sachs will be making even deeper cuts than usual, over the firm’s annual 5% reduction in staff here in the U.S., while creating 1000 new jobs in Singapore.
Credit Suisse shares are trading down today:
Barclays are trading up today:
Goldman Sachs are trading up today:
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