Credit Suisse to lay off more than 40 employees in China securities unit: report

Credit Suisse to lay off more than 40 employees in China securities unit: report

FILE PHOTO: A pedestrian walks past a logo of Credit Suisse outside its office building in Hong Kong, China March 21, 2023. REUTERS/Lam Yik/File Photo

Credit Suisse is set to launch a new round of layoffs which may impact more than 40 employees in one of its China units, two people with direct knowledge of the matter said, as the now subsidiary of former Swiss rival UBS cut costs following its takeover last month.