Credit Suisse plans on cutting another 1,500 jobs on top of 2,000 cuts announced in July. It's a move to scale back its capital-intensive investment banking business to meet tough new regulations ahead of other banks. The cuts are expected to save 2bn francs annually, needed after the unit reported disappointing third-quarter results. Banks are shedding jobs as strict capital rules aimed at shielding them from future financial crises and a tough third quarter for trading income take their toll on investment banking divisions in particular. The cuts will further reverse Credit Suisse Chief Executive Brady Dougan's post-crisis hiring spree focused on fixed income, the area hit most by the market downturn this year. Dougan, who admitted the quarter had missed the bank's expectations, told Reuters Insider television the cuts would hit all regions and units, including its private bank. The bank said it was responding to new capital rules by targeting a 50% cut in risk-weighted assets in fixed income by 2014 and planned to more closely align investment banking with its private banking and asset management units. The bank said activities under the knife include trading in long-dated unsecured assets in the global rates, emerging markets and commodities units, as well as the commercial mortgage backed securities loan-origination desk. [Reuters, 11/1/11]