UBS CEO Sergio Ermotti said it will lay off 'around 1,000' workers as it integrates Credit Suisse's domestic bank. A further 2,000 cuts will follow.
FABRICE COFFRINI/AFP via Getty ImagesThe move comes as the financial giant targets nearly $10 billion in savings by 2026.
The company said Thursday that it plans to complete the integration of Credit Suisse by the end of 2026 and aims to cut costs by $10 billion during that period.and takeover of Credit Suisse shocked the banking world earlier this year, raising fears of global financial contagion following the collapse of several regional US lenders including Silicon Valley Bank.
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