The cuts are in addition to the 4,000 job cuts unveiled last month and are part of the bank’s efforts to lower annual costs by $820m per year.
The company said its move was due to a high and inflexible cost base and volatile market conditions.
It will drive a decline in the global markets’ cost base from $6.6bn to $5.4bn by end-2018.
The company said global markets expects further write-downs in the first quarter of this year ($346m as of 11 March 2016 compared to $633m for Q4 of 2015), resulting in a loss for Q1, albeit at a lower level compared to 4Q15.
Credit Suisse CEO Tidjane Thiam said: "Our efforts aim at putting Credit Suisse in a position to generate capital and grow profitably in the medium and long term.
"The measures we are taking to strengthen our capital base and reduce our operating costs will improve our resilience and flexibility going forward."
The company has downscaled exposures that are not commensurate with its risk appetite. Its legacy exposures have been actively managed lower since the last quarter of last year.
In distressed credit, it reduced the size of its inventory from $2.9bn to $2.1bn, with gross write-downs of $99m.
Image: Credit Suisse Group headquarters in Switzerland. Photo: courtesy of Credit Suisse Group.
