'Nobody has a clue what happens next': Industry insiders react to Credit Suisse's rescue takeover by UBS
the acquisition"an emergency rescue." it operates in around 50 countries and employs more than 45,000 people, this takeover will impact employees all over the world and create panic in the banking industry. Headquartered in Zurich, Credit Suisse has a large presence in Europe. According to the, the bank has around 16,000 staff in Switzerland and more than 5,000 employees in London.
They said Körner was"very downbeat and looked exhausted" and"did most of the talking" in the call but"should not have, given his demeanor." Staff were also told there was no immediate threat to jobs but the transition plan would include changes to resourcing, the employee said. They were told hiring would stop apart from critical replacement roles, the employee added.
The outlook was calmer in Asia. UBS chief executive Ralph Hamers made clear in a statement announcing the deal that acquiring Credit Suisse would support its ambitions in Asia.
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