Location: Switzerland.
Based on news reporting.
UBS has announced that it will be laying off approximately 3,000 employees as part of its ongoing integration efforts following the acquisition of Credit Suisse. This decision comes as the company aims to streamline operations and reduce costs in a challenging economic environment. The layoffs are expected to take effect by the beginning of October 2023, impacting various departments across the organization. UBS's leadership has indicated that these reductions are necessary to enhance efficiency and ensure the long-term success of the merged entity. The move reflects broader trends in the financial sector as firms adapt to changing market conditions.
UBS cut 3,000 jobs as of October 1, 2023.
That is roughly 4.1% of the 73,000 people UBS employs.
LayoffTalk has tracked 25 layoff events at UBS since October 2023, affecting a combined 18,077 employees.
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