UBS Slashes 70% Of Credit Suisse's HK Research Staff Post-Integration: Report
Portfolio Pulse from Nabaparna Bhattacharya
UBS Group AG has reportedly terminated around 70% of the Hong Kong-based staff at Credit Suisse's securities research unit following the integration of operations. This follows UBS's plans to reduce at least 100 positions and axe roles like relationship managers in Hong Kong and Singapore that have been integrated from Credit Suisse. UBS shares are trading lower by 0.84% to $25.96 premarket on the last check Thursday.
September 21, 2023 | 10:46 am
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UBS has cut around 70% of Credit Suisse's Hong Kong-based research staff following their integration. This could potentially impact the company's operations and stock price.
The large-scale layoffs at UBS following the integration with Credit Suisse could potentially disrupt operations and negatively impact investor sentiment, leading to a decrease in the stock price.
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