Credit Suisse to increase cost cuts in wake of latest profit warning, which is the third this year
He added: “The combination of the current geopolitical situation following Russia’s invasion of Ukraine, significant monetary tightening by major central banks in response to the substantial increase in inflation and the unwind of COVID-related stimulus measures have resulted in continued heightened market volatility, weak customer flows and ongoing client deleveraging.”Vontobel analyst Andreas Venditti said: “The consequence is likely to be further erosion in staff morale.
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