UBS (UBS) is considering slashing tens of thousands of jobs following its emergency acquisition of Credit Suisse (CS), as the Swiss lender leans towards maintaining the domestic operations of its rival, Reuters’ Oliver Hirt and Noele Illien report, citing a person familiar with the discussions. UBS could cut roughly 30% of its combined workforce, which has expanded to 120,000 following the state-brokered rescue earlier this year, the authors note.
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