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Bangkok Post
Bangkok Post
Business

UBS to cut 35,000 jobs after Credit Suisse rescue

Credit Suisse UBS Geneva
Credit Suisse had a staff of around 45,000 before it nearly collapsed on investor fears about its solvency, which prompted a massive bailout orchestrated by the Swiss government. (Photo: AFP)

GENEVA: Swiss banking group UBS plans to cut 35,000 jobs at Credit Suisse -- more than half its workforce -- as part of the emergency rescue takeover of its rival in March, according to a report by Bloomberg News on Tuesday.

Credit Suisse had a staff of around 45,000 before it nearly collapsed on investor fears about its solvency, which prompted a massive bailout orchestrated by the Swiss government.

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