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Credit Suisse, Barclays to Cut U.K. Jobs as Revenue Slides

Credit Suisse Group AG, Switzerland’s second-biggest bank, and Barclays Plc began cutting jobs after reporting a slide in revenue this year.

Credit Suisse, based in Zurich, said in an e-mailed statement yesterday that the 75 reductions in its U.K. investment-banking unit will affect bankers and “certain support functions.” Barclays Capital, the investment-banking unit of Barclays, is eliminating about 300 administrative and support jobs, a person briefed on the matter said.