Bankers, traders, support staff in Credit Suisse’s investment bank in London, New York, and in some parts of Asia are expected to bear the brunt, with almost all activities at risk, Bloomberg…
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, with almost all activities at risk,UBS intends to eventually reduce the total combined headcount by about 30%, or 35,000 people, with headcount at Credit Suisse currently at about 45,000, the report said, citing people familiar with the matter.UBS and Credit Suisse declined to comment.
Reuters had last week reported that UBS will cut Asia investment banking jobs at Credit Suisse next month, with a significant reduction in investment bankers covering Australia and China.UBS intends to eventually reduce the total combined headcount by about 30%, or 35,000 people, with the headcount at Credit Suisse currently at about 45,000, the report said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UBS laying off 35,000 Credit Suisse bankers, staff: BloombergUBS AG is preparing to cut about 35,000 jobs or more than half of Credit Suisse’s work force starting next month as a result of the emergency takeover of the...
Read more »
Coinbase provides crypto miner Hut 8 with $50 million credit facilityCrypto miner Hut 8 has snagged a $50 million credit facility from Coinbase Credit.
Read more »
UBS upgrades Moderna to buy while cutting price targetUBS upgraded its rating on vaccine maker Moderna to buy from neutral on valuation grounds, but cut its price target to $191 from $221. “We acknowledge the...
Read more »
UBS downgrades Google-parent Alphabet, cites stiffer competition and generative A.I. headwindsThe bank downgraded the tech giant to neutral from buy, albeit with a higher $132 per share price target compared to the previous $123 forecast.
Read more »
Alphabet's stock fetches a downgrade as UBS sees a notable AI riskGoogle risks disrupting itself in the AI era, according to an analyst.
Read more »
UBS to announce changes to next management level soon - CEOUBS will announce further changes to its management as it seeks to integrate Credit Suisse following the recent takeover of its former rival, the Swiss bank's chief executive said on Tuesday.
Read more »