Credit Suisse to Layoff 6500
money.cnn.com
money.cnn.com
Credit Suisse was heavily penalized for their part and liability in the financial crisis. As part of their culpability, they were required to pay a large fine. That fine has some knock down effects in that some percentage of their workforce is now being laid off (and has been getting laid off for the past year). So, the fine is getting "paid" by those few thousand employees who are being shuffled off of the books to balance the cost of the fine.
Is there not a better or more effective way for us to fine and penalize businesses that perform badly? Maybe the answer is no, but this screams to me moral hazard.