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Credit Suisse job cuts: UBS is preparing to cut more than half of its rival’s workforce

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UBS Group AG plans to cut more than half of Credit Suisse Group AG’s 45,000 employees will start next month as a result of the bank’s emergency takeover.

Bankers, traders and support staff at Credit Suisse’s investment bank in London, New York and in some parts of Asia are expected to bear the brunt of the cuts, with almost all activities at risk, people familiar with the matter said.



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