CS closes every eighth branch!

the result of an austerity program

CS closes every eighth branch!

Credit Suisse’s savings program will also leave its mark on the large bank’s branch network. As a first step, the bank will close 14 of its 109 Swiss branches by the end of February 2023. The other two branches are converted into consulting offices.

It is not yet clear which branches will be closed.

Credit Suisse’s restructuring continues: the big bank is closing every eighth branch in Switzerland. According to the business portal “finews.ch”, there will still be 95 branches left by the end of February 2023. In addition, CS will convert two other branches into consulting positions. The bank informed the affected employees on Monday. It is not yet known which authorities will be affected.

CS does not provide any information on the number of jobs that will be eliminated as a result of the closure. However, as the bank has previously announced, 500 full-time jobs will be cut in Switzerland alone by the end of the year – and 2,700 worldwide by then.

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