Zurich, April 2 - Swiss media reported that As many as 36,000 people could lose their jobs globally after Switzerland's largest investment bank UBS merges with second-largest investment bank Credit Suisse.
The weekly newspaper Sonn Thak Sai Tung reported, citing an internal source, that UBS management is considering a 20-30 percent reduction in the workforce, to 25,000-36,000, of which up to 11,000 will be in Switzerland before the 19th merger. March in which the Swiss government acted as an intermediary to speed up the fallout from bank crashes in the US. UBS and Credit Suisse employ 72,000 and 50,000 respectively.
Sergio Hermotti
UBS announced last week that it Mr. Sergio Ermotti will return to serve as Chief Executive Officer or CEO. Again, to oversee the huge risks that will arise from the many troubled Credit Suisse mergers. And the stock price plummeted on March 15 as investors lost confidence after two banks in the US had to shut down consecutively.-Thai news agency
Source: Thai News Agency
