Credit Suisse will reportedly let go of a third of its investment bankers in London by the end of this month, according to reports.
The bank, which is in the process of integrating with its fellow Swiss lender UBS, has told investment bankers it will let go of around 80 of them in London.
Website Financial News, which cites sources familiar with the matter, said at least 17 managing directors will be axed.
Credit Suisse was embroiled in turmoil earlier this year amid a wider banking crisis which led to cross-town competitor UBS snapping up its rival.
The beleaguered bank has been losing around 200 bankers a week since the UBS deal was announced in March, with dealmakers being poached by rivals including Deutsche Bank, Santander and Citigroup.
Up to a third of a total of 120,000 could be cut from the company, a Financial Times report claimed on May.