The bank, UBS, is preparing a major new round of cost-cutting as it continues absorbing Credit Suisse, which is proving slower than originally planned.
The SonntagsBlick reports the bank may cut a further 10,000 jobs over the next two years.
It’s already announced thousands of job cuts globally so far.
UBS won’t confirm the figures, but says many roles will be lost due to natural wastage.
The integration of former Credit Suisse clients is also running months behind schedule - only about 85% have been migrated to UBS systems, forcing the bank to maintain two IT platforms and slowing progress toward its promised USD 13bn in savings.
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