Business Jun 28, 2023
UBS looks to cut around 35,000 jobs after emergency takeover of Credit Suisse
The cull of staff will dramatically worsen what was already a dismal year for financial sector jobs worldwide.
The cull of staff will dramatically worsen what was already a dismal year for financial sector jobs worldwide.
UBS is paying 3 billion francs ($3.24 billion) for its battered rival in a deal aimed at avoiding a broader financial crisis.
The battered bank received a $54 billion loan from the Swiss government after net outflows hit $119 billion in the 4th quarter.