The Swiss bank’s prized wealth division will not be spared from job cuts which could come as soon as next week, according to a media report.
Starting Monday the Swiss bank could start announcing job cuts in its markets, investment banking, and global wealth management businesses, the news outlet «Bloomberg» reports, citing people familiar with the matter.
The cuts are expected to come among mostly support staff and investment advisors, the outlet wrote. Dismissals in markets and investment banking have already started, a consequence of the ailing lender’s plan to reduce 9,000 positions by 2025, 2,700 of which are scheduled for this quarter.
In Asia Pacific, some wealth teams could see cuts of about 10 percent of headcount, two people said in the Bloomberg report.
