Jobs go at Credit Suisse – 30 in next six months
Friday 11th February 2011, 11:30AM GMT.
Credit Suisse's Guernsey offices.
AROUND 30 jobs are to go at Credit Suisse after the company announced it was outsourcing its fund administration business in Guernsey.
Those affected, who include a number of contractors, will depart over the next six months as the handover takes place.
All have been offered access to internal and external support services during that time.
The redundancies are not unexpected because it was revealed at the start of last year that the group was looking to focus on its main asset management business and sell off its fund administration capabilities in the island.
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What part of Guernsey is depicted in the photograph?
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South Esplanade?
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Expat – strangely enough, that would be the Credit Suisse building (Havelet Bay). You may not have recognised the buildings at first glance as they are partly obscured by trees without leaves.
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Expat, that`s at the bottom of the Terres.
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Interesting that Jack Honeybill says that this is nothing to worry about as it is not happening elsewhere in the finance industry ! I know of several firms who have let at least 10% of their workforce go in recent months. Redundancy terms mean that those effected are unable to publicly talk about their redundancies.
It is in the states interest to ignore what is happening to keep spending and not Make savings or redundancies of their own before the next elections. Come on Guernsey acknowledge what is happening before it is too late.
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…narrrrr, everything’s FINE, really it is, let’s just keep blithely milking that cash cow til the b*gger falls down dead, then our illustrious leaders can all act terribly surprised and bleat on about how they never saw that coming and that’s why there’s been absolutely no plan B formulated to deal with such an unimaginable occurrence as the finance industry slowly pulling the plug on it’s CI ops……
I must go, am planning to cross the channel in an old wardrobe this afternoon, and need to secure the hinges on the doors to avoid leaks.
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