UBS Reported to Sever Over Half of Credit Suisse Employees

  • UBS is expected to cut majority of Credit Suisse’s workforce following its near-collapse and impending merge.
  • The companies reportedly informed employees of three phases of job cuts set for July, September and October.
  • The banks, prior to the merger, employed approximately 120,000 combined, with 45,000 under Credit Suisse and 37,000 of the total in Switzerland.
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