It’s officially spooky season, when creatures from beyond the grave walk among the living. The grim reaper seems to be having a particularly good time of it. The scythe is swinging again at Credit Suisse, and it’s not great news if you work in compliance, risk, or marketing.

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Credit Suisse prepares a third wave of job cuts

It’s been a weird year for Credit Suisse. In March, the struggling Swiss lender was taken over by local rival UBS in the biggest banking deal since the 2008 financial crisis.

Since then, it’s been job cut after job cut. That’s to be expected after a deal like this. Credit Suisse needs to keep an eye on costs, and there will be synergies from merging two banks where roles overlap.

The first wave hit its investment banking and capital markets unit. Then last month the ax fell on some in the trading and research departments. Now support functions are reportedly in the firing line, including compliance, risk, and marketing. Ten percent of those jobs could go.

The total exodus could be vast. Analysts have predicted job losses of up to 35,000 people. That’s a lot of people flooding the job market in an already difficult economy.

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The bottom line