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Credit Suisse to cut 5,500 jobs in 2017 after $2.4 billion full-year loss Feb 14, 2017
 

A man enters the Credit Suisse offices in the Manhattan borough of New YorkCredit Suisse posted a 2.44 billion Swiss franc ($2.43 billion) net loss for 2016, its second straight year in the red, keeping pressure on Chief Executive Tidjane Thiam to deliver on his turnaround plan for Switzerland's second-biggest bank. The average estimate in a Reuters poll of seven analysts was for a net loss of 2.013 billion francs in the quarter. Zurich-based Credit Suisse also said it will cut its headcount by a net 5,500 jobs in 2017 after 7,250 layoffs in 2016, as it works toward its 2018 cost-cutting target.


 
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