Switzerland (/ˈswɪtsərlənd/), officially the Swiss Confederation (Latin:Confoederatio Helvetica, hence its abbreviation CH), is a country in Europe. While still named the "Swiss Confederation" for historical reasons, modern Switzerland is a federaldirectorial republic consisting of 26cantons, with Bern as the seat of the federal authorities, called Bundesstadt ("federal city"). The country is situated in Western and Central Europe, and is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is a landlocked country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning an area of 41,285km2 (15,940sqmi). While the Alps occupy the greater part of the territory, the Swiss population of approximately 8 million people is concentrated mostly on the Plateau, where the largest cities are to be found: among them are the two global and economic centres, Zürich and Geneva.
Some of the jobs lost could be people who left as part of CreditSuisse’s own cost cutting plans before the takeover or who jumped ship as confidence in the lender collapsed ... A Credit Suisse spokesperson declined to comment on the breakdown between voluntary departures and job cuts, or how many jobs could be lost in future.
Some of the jobs lost could be people who left as part of CreditSuisse's own cost cutting plans before the takeover or who jumped ship as confidence in the lender collapsed. Further jobs could be lost, with UBS saying in August it planned to cut 3,000 jobs in Switzerland alone at the enlarged bank.
In the months since taking over its former rival, UBS also scrapped plans for CreditSuisse to set up a locally incorporated bank in China. UBS has also made significant job cuts in the region, letting go of the majority of Hong Kong-based investment banking staff and the securities research unit at Credit Suisse.
UBSGroup AG this week eliminated about a dozen jobs in its US investment bank as part of its integration of CreditSuisse, according to people with knowledge of the matter ... cutting hundreds of Asia wealth-management jobs, Bloomberg News reported earlier this month.
UBS group chief executive Sergio Ermotti plans to stay at the helm until 2026 to integrate former rival CreditSuisse in a process he likened to a marathon. "I need to finish the job," Ermotti told the Economic Club of New York. "My commitment is to finish the job, and for sure that means staying through the end of 2026.
SINGAPORE, Sept 12 (Reuters Breakingviews) - Just three months after the world’s biggest wealth manager sealed the takeover of its Swiss rival, UBS (UBSG.S) is set to cut at least 100 jobs in Asia including from teams acquired from CreditSuisse.
UBSGroup AG is cutting Asia wealth-management jobs in the low hundreds, just months after completing its takeover of rival CreditSuisse as the bank responds to muted client activity and China’s slowing economy ... Since closing the takeover of Credit Suisse in June, UBS has ...
Read More ... Trillions of investment dollars and top jobs that sometimes pay $1 million or more are up for grabs ... In theory, they should be able to pluck from the growing pool of unemployed bankers as firms from CreditSuisseGroup to Morgan Stanley shed thousands of jobs ... Being great at a finance job doesn’t always translate well to this line of work.
UBSGroup embarked on a sweeping plan to cut more than $10 billion in costs, saying yesterday it will axe 3,000 jobs in Switzerland alone after it took over its stricken rival CreditSuisse... The initial round of job cuts follows a decision by the globe’s biggest wealth ...