Swiss banking giant UBS plans 5 waves of layoffs, targeting 30-35K job cuts globally after acquiring Credit Suisse, aiming to save 12B CHF ($13.2B)
Swiss banking giant UBS plans five waves of layoffs starting in June, targeting around 30,000-35,000 job cuts globally, mainly from staff reductions, following its acquisition of Credit Suisse. The aim is to save 12 billion Swiss francs ($13.2 billion) in costs. The first wave in June will involve 25-30% of former Credit Suisse staff being made redundant, with additional rounds in August, September, October, and November.
April 21, 2024
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