J3N Provides the Latest and Most Up-to-Date News, You Can Stay Informed and Connected to the World.
⎯ 《 Just 3 N : New News Now 》

UBS to cut 3,000 jobs after Credit Suisse takeover

2023-08-31 17:19
The Swiss bank reports bumper profits following the rescue of its rival but staff face redundancies.
UBS to cut 3,000 jobs after Credit Suisse takeover

Thousands of jobs will be cut as UBS absorbs Credit Suisse, in a takeover that is reshaping Swiss banking.

UBS Group reported a $29.3bn (£22.8bn) profit between April and June, in its first results since it bought its struggling rival.

The bumper profit, compared to $2.6bn in the same period...