LONDON - INVESTMENT bank Credit Suisse says it will cut around 10 per cent of its British work force, or 650 jobs.

Ms Monika Dunant, a spokesman for the Swiss-based investment bank, would not provide more details on Monday or comment on whether there will be job cuts in other countries.

Credit Suisse is Switzerland's No. 2 bank and employs more than 48,500 people in over 50 countries.

In Britain, Credit Suisse has offices in the cities of London, Birmingham and Manchester. -- AP