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Although this number pales in comparison to several other big Wall Street players' recent layoff announcements, analysts believe Credit Suisse's reductions are far from over.
A firm spokesman attributed the layoffs to "market conditions and projected staffing levels required to meet client needs." That is, clients' needs are not what they used to be.
According to Bloomberg, worldwide M&A deal volume announced so far this year has fallen 33 percent versus the same point last year. Meanwhile, global equity and equity-linked deals have decreased 36 percent, and worldwide high-yield bond sales have fallen 77 percent.
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