It may be a public holiday in America, but it's just another day in London, which explains why Credit Suisse thought July 4th an opportune time to inform its UK staff that their jobs may be at risk.
Sources at the bank say a memo went out this morning stating that a consultation with employees about proposed job reductions will begin in the coming weeks.
Seen by eFinancialCareers, the memo states that the following divisions will be impacted: the investment bank, the chief financial officer of the capital release unit (CRU), the chief risk officer, the chief technology and operations officer (CTOO) and the global chief operating officer (COO).