UBS To Fire Hundreds Of Credit Suisse Bankers: Report
NDTV
HandelsZeitung said that according to its sources UBS chief executive Sergio Ermotti wants to rapidly get to work on eliminating the huge amount of duplication in their operations.
Several hundred Credit Suisse investment bankers will soon be fired as UBS begins to implement the merger of the two banks, the Swiss weekly HandelsZeitung said Friday.
UBS agreed to buy its rival in a hastily arranged 3-billion-franc ($3.5 billion) fire sale over a March weekend by Swiss authorities afraid that a weakened Credit Suisse would go bankrupt, with speculation rife since about the impact on jobs.
HandelsZeitung said that according to its sources UBS chief executive Sergio Ermotti wants to rapidly get to work on eliminating the huge amount of duplication in their operations.
