Bonuses are slimming slimming slimming … Credit Suisse and Deutsche Bank expect less. Lazard sits pretty. The latest round updated after the jump.

As this article gets updated, the updated bank(s) will be brought to the top and the date will be republished. This article was originally published on 10/1/07.

Credit Suisse: Investment bank hit by “dislocation” in the credit markets; CFO Renato Fassbind told reporters that the bank “will always adjust our workforce to the market situation.” Compensation/expense ratio is down to 40% in Q3, compared to 51.5 in Q2 and 50% 9 months ago. Compensation and benefits for investment banking totaled $839MM francs, down 78% from Q2 and 63% from Q3 06. The number of employees numbered 47,200, an increase of 6 percent. Reported 10/2 by the Times Online and Bloomberg. In late September, they warned that 150 jobs in mortgage-backed securities to go, reported on 9/26 by Bloomberg. Another 170 investment banking jobs to go as reported Reuters on 10/2.

Deutsche Bank: Compensation and benefits totaled 177MM Euros, down 87% vs same quarter last year or 92% vs Q2. Severance payments totaled 15MM Euros in Q3. CFO Anthony di Iorio said, “We took back some of the bonuses that have been accrued in the first two quarters.” Reported 10/31 by Bloomberg.

UBS: Investment banking costs down 34 percent to 2.26 BN francs; the bank has decided to “pay more of bonuses in shares than in cash.” “We had to reduce our bonus ambitions, but not in the order of magnitude that these figures might suggest,” said UBS CFO Marco Suter as reported on 10/31 by Bloomberg. Execs predict that the IBD will not turn a profit in Q4, as reported 11/1 by the Economist.

1,500 jobs — majority London- and NYC-based — to go, including “350 of the job losses will be senior positions within the bank’s fixed-interest division”, as reported by the Telegraph. “After assessing the current market outlook and our business needs, we have decided to resize our mortgage-backed, asset-backed and CDO businesses in the U.S. to be more competitive in a changing environment, … We can confirm targeted reductions across these business lines effective today,” said UBS in a statement as reported by Bloomberg on 10/1.Deutsche Bank: CEO Josef Ackermann: “‘We have certainly also made exaggerated commitments in the whole euphoria,’ Ackermann said during an interview scheduled for broadcast on German television late Thursday. He said the bank probably will not proceed with plans to hire about 6 percent more people, although he does not expect job cuts” as reported IHT on 9/20.

Fidelity: sources tell the WSJ that 200 employees got the axe on 11/1, in areas like IT and retirement services; reported on 11/1 by WSJ. The firm is also filing to become an LLC, reported 11/2 by Bloomberg

Bank of America: UPDATED: 3,000 jobs in global corporate and investment banking to go, specifically “Most of the layoffs are in commercial banking, treasury services and back-office groups, and will be spread nationwide. However, investment bankers and traders, based largely in New York and Charlotte, N.C., are not immune.” “‘In light of the change in markets and growth prospects, the company is downsizing some positions … It’s a broad group, but it is preparing us for the slowdown ahead in the economy’” the new BoA IB head Brian Moynihan told the NYT; reported 10/25 by the NYT. The company is undergoing a review that could result in more shakeups; Bloomberg reported that a review of the investment bank to “make it more effective” should be completed by early ‘08.

The IB division suffered a 93 percent from $1.43BN last year to $100MM. Said CEO Kenneth Lewis: “I’ve had all of the fun I can stand in investment banking at the moment … So to get bigger in it is not something I really want to do” as reported on 10/19 NYPost. BoA announced back in late Sept that it was cutting 4,000 jobs — 2,500 in Illinois and 1,500 in Michigan as part of its acquisition of LaSalle Bank, reported by Reuters on 9/26.

Wachovia: though Wachovia’s execs remain committed to the IB business, 200 jobs (from worldwide locations) will be cut in investment banking after the unit’s earnings dropped from $533MM last year to $105MM this year. CFO Tom Wurtz told the Charlotte Observer that “[i]nvestment banking is one of the fastest growing businesses in financial services … Nothing has changed our perspective.” The Charlotte Observer said employees speculated that job cuts could start next week, and were “likely” in areas like leveraged finance and structured products. Reported 10/20.

Morgan Stanley: 600 jobs in three mortgage businesses which it is consolidating — 500 jobs in the U.S. and 100 jobs in Europe, reported 10/2 by Dow Jones. UPDATED: 300 jobs additional jobs to go, of which approximately 200 in the US and 40 to 60 jobs in London, reported the Times Online on 10/18. Some jobs are being relocated to Asia: “We are selectively re-sizing some of our business to reflect current market conditions as well as reallocating resources to those regions outside the U.S. where we see the best potential for growth,” a spokeswoman told Bloomberg.

JPMorgan: “Modest staff reductions” in leveraged finance and structured credit jobs; no more than 10 percent of jobs in each line are expected to be cut, and no senior heads will roll, according to anonymous sources cited by the WSJ. As of June 30, 25,356 people worked in JPM’s IB division. Reported 10/11 by Bloomberg and Telegraph and Guardian. UPDATED: CEO Jamie Dimon says that JPMorgan “expects further trimming of its work force, but will look to add positions in growth areas,” as reported 10/17 by Reuters. In its earnings report, expenses were lower by 5 percent due to compensation cuts, as reported by Bloomberg.

Nomura: Cutting 400 of its 1,300 US-based staff and closing its residential mortgage-backed securities, reported 10/15 by the AP

Citigroup: Merging its alternative investment and investment banking businesses. Thomas Maheras, co-head of IB, leaves Citi and Vikram Pandit is heading the new combined group. Fixed income head Randy Barker is also leaving. reported 10/12 by the Telegraph and the FT. Full text of the Q3 earnings call on 10/15.

Merrill Lynch: job cuts in sub-prime First Franklin unit; Telegraph; top execs getting the boot include Osman Semerci, global head of fixed income, Dale Lattanzio, co-head of fixed income for the Americas, and Dow Kim, co-head of institutional securities, as reported by the WSJ on 10/3. Expect an update after it reports earnings in October…

Bear Stearns: cut 310 jobs and closed mortgage-origination businesses, reported 10/3 by the WSJ.

Lehman Brothers: axed 2,000+, shuttered subprime unit. Cut 240 jobs — 100 jobs at Encore Credit and 140 jobs at Bear Stearns Residential — in mid-August as reported by Reuters.

HSBC: Closing its Decision One subprime mortgage unit and cut 750 jobs, 600 of which were located in Carmel, Indiana, as reported by Bloomberg on 9/21. Employees in Phoenix, Charlotte, North Carolina, and the Fort Mill, South Carolina were hit.