Credit Suisse has wasted no time setting about the “accelerated restructuring” of its trading business with the loss of 2,000 more jobs, cutting more than 20 global markets staff a day in the seven weeks since its March 23 announcement.

The bank had drawn up plans for the further layoffs in the face of tough conditions that had seen sales and trading revenues drop between 40% and 45% from a year earlier by that point in the quarter. In its quarterly results on May 10, Credit Suisse revealed that the eventual drop was even deeper.