It's been confirmed nine jobs are to go at financial services firm Credit Suisse in Douglas.
Employees at the firm's office in Victoria Street were called to a meeting yesterday, and told the Isle of Man operation is to be scaled down.
The company is closing its trust accounting function here from November this year, and nine back office posts in that area are to be relocated to Guernsey.
Credit Suisse has released few other details, describing the move as an efficiency measure. It's thought the company will retain a reduced presence in the Island.