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Banking giant UBS said Thursday that its merger with former rival Credit Suisse and full absorption of its Swiss unit would cause 3,000 job cuts in Switzerland in the coming years.
“Around 1,000 redundancies will result from the integration of Credit Suisse Schweiz,” UBS chief executive Sergio Ermotti said in a conference call with analysts.
He added that the overall restructuring was “expected to lead to about 2,000 additional redundancies in Switzerland over the next couple of years”.
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