Swiss bank UBS has announced its intention to lay off 20-30% of its employees after the merger with Swiss Credit Suisse is complete. In this respect reported Sonntagszeitung with reference to a UBS top manager.
Currently, about 120 thousand people are full-time employees of credit institutions, so up to 36 thousand employees from all over the world can be laid off. At the same time, approximately 11,000 workers in Switzerland will be directly laid off.
Formerly at Credit Suisse estimatedReferring to a letter sent from the bank to customers, RIA Novosti reported that the merger with UBS should be completed by the end of 2023.
“Credit Suisse will continue to work in standard mode. At the same time, customers of the credit institution do not need to do or do anything, because nothing changes for them, ”the statement said.
He also clarified that contracts and banking products would not change.
On March 27, Ammar al-Khudairi, head of the National Bank of Saudi Arabia, submitted his resignation as his remarks caused a drop in the value of Swiss bank Credit Suisse’s shares.