Credit Suisse Plans to Cut About 2,000 Jobs as Net Drops 52%
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Credit Suisse Group AG, the second-biggest Swiss bank, plans to cut about 2,000 jobs after second-quarter profit fell 52 percent on lower earnings from trading.
Credit Suisse dropped as much as 4 percent in Swiss trading after reporting net income of 768 million Swiss francs ($956 million), less than the 1.06 billion-franc average estimate of 16 analysts surveyed by Bloomberg.