(CNBC) UBS Group is looking to cut more than half of Credit Suisse’s workforce from next month as a result of the bank’s takeover, Bloomberg News reported on Tuesday. Bankers, traders, support staff in Credit Suisse’s investment bank in London, New York, and in some parts of Asia are expected to bear the brunt, with almost all activities at risk, the report said. UBS intends to eventually reduce the total combined headcount by about 30%, or 35,000 people.
UBS to cut more than half of Credit Suisse workforce, report says
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