Bankers, traders, and support staff in Credit Suisse’s investment bank in London, New York, and in some parts of Asia are expected to bear the brunt, with almost all activities at risk,UBS intends to eventually reduce the total combined headcount by about 30%, or 35,000 people, with headcount at Credit Suisse currently at about 45,000, the report said, citing people familiar with the matter.UBS and Credit Suisse declined to comment.
Reuters had last week reported that UBS will cut Asia investment banking jobs at Credit Suisse next month, with a significant reduction in investment bankers covering Australia and China.UBS intends to eventually reduce the total combined headcount by about 30%, or 35,000 people, with the headcount at Credit Suisse currently at about 45,000, the report said.
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