UBS saved Credit Suisse, but put 14,000 India jobs at risk2 min read 21 Mar 2023, 07:50 PM IST
Both UBS and Credit Suisse's India-based technology centres are expected to see the maximum impact of the Swiss government-backed takeover of Credit Suisse by UBS
Swiss authorities may have averted disaster and helped soothe concerns by forcing a merger of the country's two largest banks – the distressed Credit Suisse Group AG and the stronger UBS Group AG – in a government-brokered deal after days of market upheaval. But their actions might have risked jobs of nearly 14,000 Indian employees working at the banks technology back offices across three cities, including Pune.
Select your Category