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Credit Suisse to cut bonus pool by 20 percent - paper
Jan 13th 2013, 10:39

ZURICH (Reuters) - Credit Suisse will cut its bonus pool for 2012 by 20 percent to around 2.3 billion Swiss francs (1.56 billion pounds), the fourth year in a row the Swiss bank has slashed payouts, a newspaper reported on Sunday. Citing unnamed sources, Der Sonntag newspaper said the 20,000 employees of Credit Suisse's investment bank were allocated significantly over 1 billion francs, while the 14,000 staff of the private bank would get some 400-500 million francs. A Credit Suisse spokeswoman declined to comment. The expected payout of 2.3 billion francs compares to 3 billion francs the bank allotted to bonuses in 2011 and 5 billion it paid in 2010. Der Sonntag said the bonus pool was...

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