Credit Suisse Considers Cutting Bonus Pool by at Least 10%
- Bank expects to post a fourth-quarter loss on rising charges
- Bonus pool had remained stable for the previous two years
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Credit Suisse Group AG is considering cuts of at least 10% to its bonus pool after a series of charges hit the Swiss bank’s profit last year, according to people familiar with the matter.
The lender is finalizing discussions for 2020 discretionary payments and will begin informing employees of its decision over coming weeks, the people said, asking not to be identified because the matter is private. Reductions to the overall pool, which may extend to 15%, would mark a change from the previous two years when it was left almost untouched.