Volatile markets, reduced revenues and compromised earnings are prompting a wave of job cuts across the global banking industry.

HSBC
HSBC REUTERS
CREDIT SUISSE
Credit Suisse, the Swiss banking icon, has already announced it will cut 2,000 jobs, after it posed a sharp decline in net revenues at its investment banking operations. The company has a total of 50,700 employees worldwide and wants to generate 1-billion Swiss Francs in savings buy the end of 2012. “The investment bank is a catastrophe,” said Dirk Becker, a Frankfurt-based analyst at Kepler Capital Markets said . “After the financial crisis, Credit Suisse expanded the investment bank but then the hoped-for volumes didn’t materialize.” REUTERS
UBS
Credit Suisse’s chief rival in Switzerland will cut 5,000 jobs, amidst prolonged weakness in its investment bank segment and fears it will be unable to meet its profit targets for the year. In the second quarter, net profit plunged by almost half. The bank is seeking to cut costs by about 2-billion Swiss Frances ($2.5-billion) UBS has a global workforce of about 66,000. Reuters
Goldman Sachs
The publicity-shy bank launched its new twitter account on its annual meeting day. REUTERS
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