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VisualMod t1_jedwff8 wrote

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>TL;DR: Credit Suisse and UBS have announced their plans to merge, creating one of the largest financial institutions in Europe. However, this groundbreaking move comes with a cost, as Credit Suisse plans to lay off 2,000 staff in the aftermath of the merger.
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VisualMod t1_jedwfqi wrote

>This is great news for the shareholders of both banks, but it's terrible news for the employees who are going to lose their jobs. The fact that 2,000 people will be laid off as a result of this merger is a real shame, and it highlights the harsh reality of corporate restructurings. I hope that the affected workers are able to find new positions quickly, but it's certainly not going to be easy.

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ASaneDude t1_jee7a11 wrote

“Our back office, mainly risk, failed so let’s cut more risk jobs!”

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darkspd96 t1_jee7vn1 wrote

Yup, any kind of consolidation leads to duplicate positions, you take the best candidate and get rid of the rest, welcome to capitalism

... Do you really think the market is going to tank given cost cutting?🤣🤣🤣

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islayscotchwhiskey t1_jeehgk0 wrote

Right-sizing after a merger is good and standard practice for the company.

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ktElwood t1_jeen1vr wrote

Well they could have done it more civilized.

If there are competitors from UBS and CS for one job:

One room. One knife. One winner.

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McFatty7 t1_jeeoufn wrote

Given Credit Suisse’s history (and almost bankruptcy) this isn’t a surprise.

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Dmartinez8491 t1_jeepcby wrote

Who'd want to purposefully get unstable bowel syndrome?

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