Credit Suisse takeover could cost up to 40,000 jobs – banks

Zurich – According to a media report, the emergency takeover of Credit Suisse by the major Swiss bank UBS might cost tens of thousands of jobs. It was still too early to estimate how many jobs would be cut, according to a report by the Financial Times on Tuesday. But it might be up to a third of the merged bank’s 120,000 jobs. Credit Suisse’s Swiss operations and investment bank, which together employ more than 30,000 people, are likely to bear the brunt of the cuts. In Switzerland there is a lot of overlap between the two institutes. (Archyde.com, red, 3/21/2023)