UBS cuts more than half of staff at Credit Suisse

SGGP June 29, 2023 07:03

Reuters news agency quoted Bloomberg News as saying that Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse, or more than half of the bank's workforce, as part of the merger in March.

The affected groups are bankers, traders, or support staff at Credit Suisse's investment bank in London, New York, and some other areas in Asia. Both UBS and Credit Suisse declined to comment on the above information.

Credit Suisse had 45,000 employees before it nearly collapsed as investor concerns about the bank's solvency forced the Swiss government to orchestrate a merger.

Last week, Reuters reported that UBS will cut jobs at Credit Suisse's Asian investment bank from next month, with significant reductions at investment banks in China and Australia.

Source: https://www.sggp.org.vn/ubs-cat-giam-hon-mot-nua-nhan-su-tai-credit-suisse-post695422.html