UBS, the Swiss bank, is facing the challenge of integrating Credit Suisse after its $3.25bn acquisition. While UBS has spent $500m on retention bonuses to keep key employees from Credit Suisse, it has also laid off around 13,000 employees. Additionally, many employees have left for rival firms, often with the approval of their former employer. UBS executives have chosen not to provide ongoing updates on the lay-offs. The bank’s third-quarter results highlight the complexity of merging the two banks and the need for significant cost savings.

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Information	Details
Geography	Europe
Countries
Sentiment	neutral
Relevance Score	1
People	Sergio Ermotti
Companies	UBS, Credit Suisse
Currencies	None
Securities	None