Updated Wednesday, January 23, 2008 0:00 am TWN, AP

Credit Suisse to cut 150 jobs in Britain’s unit

ZURICH, Switzerland -- Credit Suisse Group said Monday it will cut 150 jobs in its investment bank unit in Britain as a result of market turmoil caused by the U.S. subprime mortgage crisis. Marc Dosch, a spokesman for Switzerland’s second-largest bank, said the cuts were part of a reallocation of resources, meaning new jobs would be created in other areas, where the bank is expecting future growth.
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