UBS to Layoff 3,000

UBS Group AG is a financial services company that offers a variety of services that include investment banking, wealth management, private equity, private & corporate banking, asset management and mortgages, etc. UBS (formerly Union Bank of Switzerland) was founded in 1862 as the Bank in Winterthur, and today’s UBS was formed in 1998 through a merger of Union Bank of Switzerland and Swiss Bank Corporation with its headquarters in Zurich, Switzerland.

The company has announced plans to layoff 3000 employees in a bid to reduce overhead, after the acquisition of Credit Suisse (a 167-year-old financial services company) for over $3 billion USD in March 2023. According to CNN, the job cuts will be spread over a few years.

Leave a Reply