UBS, a leading Swiss financial group that acquired the bankrupt Credit Suisse, has announced that it will cut 1,4000 employees in a few years, aiming to reduce costs by more than 3000.<> trillion yen.
UBS announced its financial results for April-June on March 31.
By acquiring Credit Suisse at a bargain price, the company revealed that its final profit was more than $4.6 billion, more than 10 times the same period last year, and more than ¥288.4 trillion in Japan yen.
In addition, Credit Suisse's domestic division in Switzerland will be integrated into the main unit by next year, aiming to reduce costs by more than 2000 billion dollars and more than 100.1 trillion yen in Japan yen by reducing duplicate personnel.
In Switzerland alone, 4600,3000 employees will be cut in the next few years, and voluntary retirement is expected to increase.
Since this acquisition is a restructuring of two major financial groups in Switzerland, there were concerns about the impact on employment issues.
According to Reuters, around 2,8000 people worldwide have left Credit Suisse since the acquisition.