Swiss Prosecutors Investigate Credit Suisse Deal – Job Reductions Expected

Swiss prosecutors have opened a probe into potential crimes surrounding UBS Group AG’s takeover of Credit Suisse Group AG. The combination of the two biggest banks in Switzerland is expected to result in job cuts, as part of the restructuring process.

The investigation will focus on any possible violations that may have occurred during or leading up to the merger. Prosecutors are looking for evidence related to money laundering, insider trading, and other financial misconducts that could be linked with this deal.

UBS has stated its commitment to compliance with Swiss law and regulations throughout this process, but it remains under scrutiny by authorities until further notice. In addition, Credit Suisse has said it is cooperating fully with investigators and providing all necessary information requested by them regarding their dealings around this matter.

Overall, while both parties remain confident about their respective positions on these issues at hand; only time will tell what conclusions can be drawn from these investigations as they progress further down the line.