Credit Suisse And Nomura Slash Jobs

Swiss bank Credit Suisse announced 5,300 job losses Thursday. It has already cut 1,800 jobs this year and said earlier this week it would cut 650 investment banking jobs in Britain.

Meanwhile Nomura Holdings said it would shed a thousand London jobs, meaning that the global financial sector has now seen over 150,000 jobs culled since September when Lehman Brothers filed for bankruptcy.

Credit Suisse said on Thursday it made a net loss of about 3 billion Swiss francs ($2.5 billion) in October and November.

Nomura, Japan's biggest brokerage, said the decision to cut as much as 22 percent of its London staff followed an internal review after the purchase of the Asian, European and Middle Eastern assets of Lehman Brothers.