UBS to absorb Credit Suisse domestic unit, eyes 3,000 job cuts dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
UBS has initiated a cost-cutting initiative exceeding $10 billion, signaling its intention to eliminate 3,000 jobs exclusively within Switzerland. This move follows its acquisition of struggling rival Credit Suisse, showcasing the considerable changes underway. The decision to eliminate approximately one in twelve Swiss positions within the newly merged banking behemoth offers insight into the extensive restructuring, which comes as UBS confronts the task of integrating a competitor that suffered significant customer withdrawals. The primary avenue for generating savings involves workforce
Switzerland's banking landscape is in for a shakeup. UBS, the global banking titan, recently announced plans to eliminate approximately 3,000 positions in Switzerland
UBS' Swiss job cuts to be carried out with good social plan, union says devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
ZURICH (Reuters) -UBS Group embarked on a sweeping plan to cut more than $10 billion in costs, saying on Thursday it will axe 3,000 jobs in Switzerland alone after it took over its stricken rival Credit Suisse. The initial round of job cuts follows a decision by the globe's biggest wealth manager to absorb Credit Suisse's local arm - a solid profit-maker that last year was the only Credit Suisse division in the black - rather than spin it off, which UBS had also considered. Globally, 8,000 Credit Suisse have already left over the first half of the year.