Layoffs under UBS‘s cost-cutting program announced after its takeover of Credit Suisse will take place in five waves this year starting in June, newspaper SonntagsZeitung reported on Sunday, according to Reuters. After the first round in June, in which 25%-30% of former Credit Suisse staff are expected to be made redundant, the next rounds will take place in August, September, October and November, the newspaper reported.
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