The rescue of Credit Suisse (CS) by UBS (UBS) is expected to result in job cuts amounting in the "tens of thousands," The Financial Times’ Owen Walker, Chris Flood, and Sam Jones report. Credit Suisse’s domestic business and its investment bank, which employ more than 30,000 staff collectively, are expected to bear most of the cuts, according to people familiar with UBS’s plans. It is unclear how many jobs will be cut, but "it could be as much as a third of the 120,000 jobs in the combined group," according to the report. Reference Link
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