UBS proposes merging Swiss UBS and Credit Suisse units by July 1, with 3,000 layoffs in Switzerland.

A senior UBS official suggests merger of Swiss UBS and Credit Suisse units as early as July 1, following last year's UBS acquisition. The merger progress is going well, with customers to transfer to UBS's IT systems in 2025. The combined entity will become a single global bank nearly twice the size of Switzerland's annual output, leading to around 3,000 layoffs in Switzerland.

June 11, 2024
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