UBS preparing to cut over half of Credit Suisse workforce

(Image: Bloomberg)

Thu, 29 Jun 2023

By Marion Halftermeyer, Laura Benitez and Myriam BalezouUBS is planning to cut more than half of Credit Suisse's 45,000-strong workforce starting next month as a result of the bank’s emergency takeover.Bankers, traders and support staff in Credit Suisse’s investment bank in London, New York, and in some parts of Asia are expected to bear the brunt of the cuts, with almost all activities at risk, people familiar with the matter said. Staffers have been told to expect three rounds of cuts this year, with the first expected by...

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