UBS’s rescue of Credit Suisse is expected to result in tens of thousands of job cuts, with Switzerland’s financial sector already bracing itself for a heavy hit from the contentious takeover.
Credit Suisse’s domestic business and its investment bank, which collectively employ more than 30,000 staff, are expected to bear the brunt of the cuts, according to people familiar with UBS’s plans.
These people added that it was too early to quantify how many roles would go, but it could…
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