Bank’s emergency combination with UBS beginning to take shape
Switzerland’s top prosecutor opened a probe to gather information into potential crimes that may have taken place around UBS Group’s takeover of Credit Suisse Group, while the emergency combination of the nation’s two biggest banks begins to take shape.
The deal signed last month may reduce the overall workforce by up to 30%, with as many as 11,000 cuts in Switzerland and another 25,000 worldwide, Swiss newspaper SonntagsZeitung reported on Sunday, citing an unidentified senior manager at UBS. Executives at the Swiss bank said last week that they are looking to provide clarity on job cuts as soon as possible but that it was too early to give firm numbers...
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