The bank created by the UBS (UBS) takeover of Credit Suisse (CS) is poised to reduce its workforce by 20%-30%, Swiss daily Tages-Anzeiger reported on Sunday, citing an unnamed senior UBS manager, Reuters says. The report said the bank could cut about 11,000 jobs in Switzerland. Jobs in its U.S. investment banking arm will also be affected, the report said, with UBS set for talks to terminate a deal that would have given Wall Street dealmaker Michael Klein control of much of Credit Suisse’s investment bank. Reference Link
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