UBS Group is preparing to reduce more than half of the Credit Suisse Group's workforce following the emergency takeover of the bank. The impact of these job cuts is expected to be felt primarily by bankers, traders, and support staff in Credit Suisse's investment bank located in London, New York, and certain parts of Asia.

UBS plans to sack 'more than half' or 35,000 Credit Suisse staff: Report

Credit Suisse, one of the leading banks in Switzerland, faced a significant "bank run" ahead of its collapse in March 2023, a Reuters report indicated on Monday.

Credit Suisse faced 'bank run', depositors withdrew $68 billion ahead of UBS takeover

Days before a hastily convened press conference late on Sunday that would make the world's front pages, Switzerland's political elite were secretly preparing a move that would jolt the globe.

What went down before Credit Suisse-UBS Group deal was announced?

Over $17.3 billion worth of bonds issued by the struggling Credit Suisse bank has become worthless overnight after rival UBS Group AG pitched in with the takeover bid.

Over $17 billion worth of bonds become zero after Credit Suisse takeover by UBS

UBS on Sunday (March 19) agreed to buy the troubled rival bank Credit Suisse for $3.25 billion after the two banks held marathon talks, the Financial Times reported.

UBS agrees to buy Credit Suisse for $3.25 billion: Report