the headline reads: Jobs Cut Expected at Credit Suisse in S’pore.
a total of 5,300 staff from credit suisse (or 11% of its workforce) would b retrenched worldwide in a major restructuring exercise. this was announced after losses of about 3b swiss francs in e first 2 mths of this quarter. its investment banking biz was hit particularly hard and most layoffs, which affect all levels of seniority, would b from its IB business. in singapore, though nth is concrete, it is estimated tt as many as 250 staff would b laid off, out of e 5,500 staff here.
wad a news! now i am worried. would they decide to freeze hiring for next year? would my offer be taken away? it has been 2 weeks since e verbal offer and my contract still haven come. yup i noe they said it would take abt 2 weeks to prepare it and thus i shld b abit more patient ha. but i feel kinda insecure now. and guess i hav made a bad move (or many bad moves). cos after credit suisse’s verbal offer, i was invited for a few other interviews as well and i turned down most haha. UOB MA program, RBS ops analyst program and shell commercial position. largely bcos i was lazy i admit haha, and partly cos i knew tt credit suisse would b my first choice so i see no pt in gg for any more interviews.
now tt everything seems soo insecure mayb i shld still b gg for other interviews if i hav e chance to. shall do my best for UBS superday next sat and see wad comes out of it! but still hoping hard tt credit suisse would still wan me despite their crisis and restructuring exercise.
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Yo,
Yea, I remember I heard that piece of news regarding Credit Suisse on Fri, so I immediately thought of you.
I guess you should be ok, don’t worry, cos I think they would prefer hiring new grads, *cheaper labour you know, cos probably they gonna boot the higher management, so need the fresh grads to try to fill up the positions while they push people up to the higher positions.
But, if they don’t get back to you by next week, why not just call/email to enquire about it.
Jiayou!
I think jingzz said it best. New hires shouldn’t be a problem since we are cheaper, if that’s any consolation. I am beginning to suspect you are addicted to interviews. XD
can one larh, must give them time to settle their own problem first den come and draft the contract for you all new guys mah
actually i hav seriously given up on credit suisse alr. totally no news after 3 weeks and my email to them was nt replied.
i jus feel angry and disappointed abt e way they do things. if e ctt is late due to wadever reason, they shld juz at least send an email or make a call to let us noe. if they hav decided to freeze hiring and nt extend e offer anymore, all e more they shld tell us personally so we can make other plans. and nt wait till we go find them to ask wad is happening, totally leave us out of e loop.
i guess life isn’t fair in the real world; and they probably feel that they have more important $$$ issues to deal with. oh well~ there’s still time to go for other interviews! =) jia you & good luck!
Hey, realised i was in the same situation as you. Received my verbal offer for ops analyst in late Nov but still no contract yet. Tried calling but no one answered. So sian lar dunno wat is going on. Guess the option now is just wait lor
rachel: yea man. ha sian of interviews alr man.
waiting..: oh u tried calling but no one ans? hmm tt is really bad. i think e person who gave us verbal offer kena retrenched liao la. so no one follows up alr. totally disappointed with them. do leave a comment here if you receive ur contract okie. thanks!