Credit Suisse takeover could cost thousands of employees their jobs

If UBS were to take over Credit Suisse, thousands of jobs would be at risk. The Reuters news agency speaks of 10,000 jobs that could be cut.

SRF business editor Reto Lipp also sees this danger. In the “Tagesschau” he said: “Both banks have well over 300 branches, which will be far too many.” Lipp expects that a large part of the dismantling will take place in Switzerland.

Because the two banks are doing practically the same business in Switzerland. “There are duplications in IT, human resources and management anyway. This is really a difficult situation, and there will be a lot for the employees, »says Lipp. The bank staff association is therefore already demanding a social plan.