{"id":120916,"date":"2021-04-13T03:13:17","date_gmt":"2021-04-13T03:13:17","guid":{"rendered":"https:\/\/precoinnews.com\/?p=120916"},"modified":"2021-04-13T03:13:17","modified_gmt":"2021-04-13T03:13:17","slug":"credit-suisse-cuts-bonuses-following-archegos-loss-ft-2","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/","title":{"rendered":"Credit Suisse cuts bonuses following Archegos loss &#8211; FT"},"content":{"rendered":"<figcaption>FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021.   REUTERS\/Arnd Wiegmann\/\/File Photo\/File Photo<\/figcaption><p>(Reuters) -Credit Suisse Group AG has cut bonuses for its staff by hundreds of millions of dollars after it lost $4.7 billion from the collapse of hedge fund Archegos Capital, the Financial Times reported on Monday.<\/p>\n<p>The Swiss bank&#8217;s pre-tax income for the first quarter was expected to be just over $3.7 billion, with about $600 million achieved through reductions to staff bonus and other one-off items, according to the report, which cited people briefed on the bank&#8217;s performance. (on.ft.com\/2OOE5PW)<\/p>\n<p>A Credit Suisse spokesperson declined to comment.<\/p>\n<p>The magnitude of bonus cuts will be revealed with the company\u2019s quarterly results next week, the FT said.<\/p>\n<p>Switzerland\u2019s second-biggest bank has been reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital within the course of a month.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/credit-suisse-gp-bonuses\/update-1-credit-suisse-cuts-bonuses-following-archegos-loss-ft-idUSL4N2M60PN\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: The logo of Swiss bank<\/p>\n","protected":false},"author":3,"featured_media":120915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Credit Suisse cuts bonuses following Archegos loss - FT - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Suisse cuts bonuses following Archegos loss - FT - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: The logo of Swiss bank\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-13T03:13:17+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/04\/Credit-Suisse-cuts-bonuses-following-Archegos-loss-FT-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/\",\"url\":\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/\",\"name\":\"Credit Suisse cuts bonuses following Archegos loss - FT - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-04-13T03:13:17+00:00\",\"dateModified\":\"2021-04-13T03:13:17+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/business\/credit-suisse-cuts-bonuses-following-archegos-loss-ft-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/precoinnews.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Credit Suisse cuts bonuses following Archegos loss &#8211; 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