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UBS Group (UBS.US) is considering layoffs in France to respond to the deteriorating local economic outlook.
UBS Group (UBS.US) is considering layoffs in France in response to the country's deteriorating economic outlook and to carry out work related to the merger with Credit Suisse. A UBS spokesperson stated that due to the unfavorable market environment and following the integration of Credit Suisse earlier this year, UBS is considering restructuring some business activities. However, he did not specify the potential scale of layoffs. Credit rating agency Moody's downgraded France's rating last week, citing that the political and fiscal deadlock could affect its ability to cut spending and reduce the budget deficit.
Express News | UBS Group is considering layoffs in France due to economic deterioration and the ongoing integration with Credit Suisse.