UBS CEO cautions of tough job choices post Credit Suisse acquisition.
UBS CEO Warns of Job Cuts Following Credit Suisse Takeover
“We won’t be able to create, short term, job opportunities for everybody. Synergies is part of the story. We need to take a serious look at the cost base of the standalone and combined organisations and create a sustainable outcome. It will be painful.”
UBS Chief Executive Sergio Ermotti has issued a warning about job cuts following the takeover of Credit Suisse. Switzerland’s no. 1 bank agreed to take over its smaller Swiss rival in March as part of a rescue orchestrated by Swiss authorities. Ermotti hopes the deal can be closed in the next few days, but he has also warned that painful decisions about job cuts will need to be made.
Republican Leadership Team Addresses Press on Nation’s Pressing Issues
The Senate Republican leadership team has spoken to the press about the nation’s pressing issues. Senator Tommy Tuberville has also spoken out, saying that taxpayers shouldn’t have to pay for anything to do with an abortion. He believes that the so-called ‘Hyde Amendment’, which Joe Biden supported in the Senate, should have codified this policy.
Former President Trump Speaks at West-Side Conservative Club Event
Former President Trump has spoken at the West-Side Conservative Club event in Urbandale, Iowa.
Uncertainty Surrounds Fate of Debt Ceiling Agreement
Joe Biden might not be the only one falling as the fate of the Debt Ceiling Agreement remains uncertain.
Tech News:
- Amazon’s India and South Asia Head of Cloud Division Warned by Privacy Watchdog
- Japan’s Privacy Watchdog Warns Microsoft-Backed Startup OpenAI
- Google Leads $36 Million Funding Round for Satellite-Image Startup Pixxel
- Meta Platforms Inc to Test Limits on Social Media Websites Facebook and Instagram
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