Reuters: Credit Suisse is expected to reduce 80 % of Hong Kong employees this week

It will be revealed that Credit Credit Bank will from this week from this week.Starting, about 80 % of the employees of Hong Kong were launched.

Reuters on Monday (August 7) quoted two anonymous people who reported that in cooperation with the Swiss Bank Group's merger plan, Credit Suisse will cut about 80%of the Hong Kong Investment Bank from this week.staff.

People familiar with the matter said that the layoffs will affect the 100 -person investment banking team in Hong Kong, and only 20 people can avoid being laid off.

Rui Hong Kong is the place where Creditkin is the most in Asia.Credit Suisse and UBS refused to comment on Reuters.

The layoff operation was carried out after the Swiss government's acquisition of Creditkin transactions supported by the Swiss government in June.Since the acquisition of the transaction announcement, UBS has clearly stated that it will reduce the risk of the business of CITIC Investment Bank.

Reuters quoted people familiar with the matter. As a part of the compilation, the UBS group dismissed employees of the New York Investment Bank last week.UBS Group also decided to close Creditkin's office in Houston, USA.