Credit Suisse, Switzerland’s second largest bank, is to cut about 500 investment banking and support roles in addition to 1,300 job cuts already made this year, according to media reports.

However, reports did not say whether any job changes will affect Credit Suisse’s wealth management operations or other parts of the bank’s business lines.

"Due to market conditions and projected staffing levels required to meet client needs, we are reducing global headcount by approximately 500 across our Investment Banking Division and certain support functions," the bank was quoted as saying.

Reports said that most of the cuts will be coming from the investment banking divisions in the US and the Europe, Middle East and Africa region.

Credit Suisse was quoted by Dow Jones as saying: “Due to market conditions and projected staffing levels required to meet client needs, we are reducing global head count by approximately 500 across our investment banking division and certain support functions.”

Earlier this month, Credit Suisse reported a third-quarter net loss of more than $1.1 billion. The bank also said net revenues fell by 48 per cent in the third quarter from the same period last year.