The job cuts are expected to result from overlapping activities at the two banks, which had a combined workforce of around 120,000 at the end of last year, with 37,000 of them in Switzerland.
UBS chief executive had warned that the coming months were likely to be "bumpy" and require difficult decisions, particularly regarding employment.
LONDON DAILY ARCHIVE
UBS to Cut 35,000 Jobs in Emergency Rescue Takeover of Credit Suisse
Swiss banking group UBS plans to cut 35,000 jobs, more than half of its workforce, as part of the emergency rescue takeover of its rival Credit Suisse in March.
28 June 2023 · 04:36 UTC
