ZURICH - CREDIT Suisse says it will cut 5,300 jobs as a result of the global financial crisis.

The figure represents about 11 per cent of the Swiss bank's global work force.

Credit Suisse says most jobs will be cut in its ailing investment banking business.

The bank predicts a 3 billion francs (S$3.8 billion) net loss for the fourth quarter.

Credit Suisse says in a statement on Thursday that chief executive Brady Dougan and other senior officials will not receive salary bonuses for 2008 because of the bank's bad performance during the year. -- AP