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Swiss investment decision lender UBS Team AG is getting ready to lay off as lots of as 36,000 individuals in the wake of its takeover of rival Credit score Suisse — considerably extra than initial planned, in accordance to a report Sunday.
Citing insiders at the financial institution, the Swiss newspaper SonntagsZeitung reported Sunday that UBS
UBS,
options to slash 20% to 30% of its workforce. That would be in between 25,000 and 36,000 of UBS’s 120,000 full-time positions pursuing the blend of the two banking institutions. The newspaper reported up to 11,000 layoffs would be in Switzerland.
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