Swiss bank UBS Starting next month, Credit Suisse will lay off more than half of its staff, affecting mainly bankers, merchants and support staff London, New York and Asiaas evidenced by sources familiar with the subject.
According to information put forward by ‘Bloomberg’ layoffs will come three rounds, all this year, the first is scheduled for the end of July and the other two for September and October. These processes are the result of 30% of the employees from the combination of the two financial institutions, that is, approximately. 35,000 workerswill come mostly from Credit Suisse. The latter employs about 45,000 people. UBS plans to save money with these measures 6 billion dollars (5.474 million euros) in the next few years.
If he is the current CEO of UBS, Sergio Ermotti, He said the process was progressing Tuesday from Zurich, who returned to the Swiss bank in March to lead the merger of both companies. “Very good”.
UBS acquires Credit Suisse Swiss state-sponsored merger After the contagion of financial instability brought about by the bankruptcy of Silicon Valley Bank (SVB) in the United States.
The layoffs at UBS continue with the dynamic that already exists in the industry, which Goldman Sachs announced on June 1st would do without it. 250 employees3,200 contacts will be added in January. Morgan Stanley, for its part, is wrapping up the company’s exit. 3,000 workers.