UBS to cut thousands of jobs after Credit Suisse takeover: Report

Credit Suisse is currently undergoing the 9,000 job cuts it announced last year and after UBS acquires the troubled bank, the final toll could be a multiple of that number, Bloomberg reported. This comes as UBS said it plans to cut the combined company's annual cost base by over $8 billion by 2027 and downsize Credit Suisse's investment banking business.