THOUSANDS of City jobs are at risk in the wake of the £2.5 billion rescue takeover of imploding Credit Suisse by arch rival UBS, analysts warned today.
The emergency deal cobbled together yesterday was supposed to restore confidence in markets worried about a re-run of the 2008 financial crash.
But markets remained febrile today and banks including Credit Suisse in particular are highly likely to axe jobs.
The fallen Swiss banking giant, which was still saying to staff it will pay promised bonuses despite the crisis, employs 5,000 in the UK at Canary Wharf, while UBS has 6,000 mostly at Broadgate in the City.
City veteran David Buik, of Aquis Exchange, said: “There will be ‘cherry picking’ with CS likely to lose more jobs. I would expect 2,000 jobs in total to go.”
Neil Wilson at markets.com said: “It’s going to be rough. Credit Suisse was always heading for shrinkage anyway. It was just one disaster after another at that bank.”
Mark Yallop, former chief executive of UBS in the UK, told BBC Radio 4’s Today programme: “It’s inevitable that a merger of this sort will result in some further job losses.
“I would imagine those would be concentrated in the risky investment banking business at Credit Suisse which is partly the cause of the problems that the firm is experiencing, and in middle, backoffice, technology and operational roles.”
ãã®èšäºã¯ Evening Standard ã® March 20, 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Evening Standard ã® March 20, 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
MARESCA MOVE LIFTS MOOD FOR BRUISED BLUES
STARS DISMAYED BY POCH EXIT ARE NOW EXCITED BY HOPE THAT ENZOâS VISION WILL GET BEST OUT OF THEM
Lions cutbacks a 'gut punch' by prospective Everton owners
How breakthrough moment by European history makers was ruined by 777 decision
US shoppers put the boot into Doc Martens as profits dive
RETAIL Daniel O'Boyle DR. MARTENS today unleashed a major cost-cutting drive to restore its fortunes after profits slumped by almost half in a difficult year for the iconic boot brand.
Roy Keane elbowed me in the nose and called me fatty, says Arsenal fan
ROY KEANE has been accused of throwing an elbow at an Arsenal fan's nose in an alleged bout of \"gratuitous violence\", moments after the Manchester United legend says he was assaulted.
Want to get creative in the capital? Now's the time for teen spirit
From fashion and digital arts to film and TV, the creative industries are booming which is great news for young Londoners, says Julie Henry
âI got stop and searched the week my hit novel came outâ
Hot young writer Caleb Azumah Nelson tells Emma Loffhagen about how gentrification is changing Peckham, and why an incident with the Met shows the police still have a race problem
Stay in the magic ata Disneyland Paris Hotel
Boundless dreams await in the worldfamous theme parkâs range of excellent accommodation
Israel in control of Gazaâs whole land border after Seizing corridor
ISRAEL today said it had taken control of a strategic corridor along Gaza's border with Egypt, leaving it effectively in charge of the strip's entire land boundary.
Mudbath in park puts London Pop festival atrisk thisweekend 4
A MAJOR London music festival scheduled for this weekend was thrown into doubt today after a string of events turned the venue into a mudbath.
Boy aged 9 critical after drive-by shooting in Dalston
Three men also suffer injuries as gunman opens fire from motorbike