LAYOFF

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UBS-Credit Suisse merger may lead to massive layoffs

Switzerland’s biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal, leading to tens of thousands of jobs being be at risk, The Financial Times reports photo: www.reuters.com It is noted that layoffs may affect up to a third of 120,000 employees of the combined banking group. At the same time, the reductions will mainly affect domestic business and the investment bank Credit Suisse, which employs 30,000 people. According to the source of the newspaper, ...

23.03.2023
Switzerland , banks , layoff

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