Credit Suisse to cut 1,500 more jobs after weak results

LONDON. November 1. KAZINFORM Swiss bank Credit Suisse has announced plans to cut another 1,500 jobs from its global workforce of 50,700; Kazinform refers to BBC.

The announcement came as the bank reported third quarter results, which its chief financial officer said were "below our expectations".

Net profits came in at 683m Swiss francs ($773m; £483m), although that was still 12% above the level in the same period last year.

The job cuts come on top of 2,000 announced in July.

Credit Suisse set aside 295m francs to settle a US tax probe and another 183m francs to settle a separate tax investigation in Germany; Kazinform cites BBC.

To learn more go to www.bbc.co.uk