UBS has announced that the recent interest rate cut in Switzerland will negatively impact its lending income, marking a shift after nearly two years of positive financial conditions. This makes UBS the first major European bank to issue such a warning. Additionally, UBS's CEO has revealed plans for job cuts in Switzerland, scheduled to begin in late 2024 and extend into 2025 and 2026.
UBS CEO says job cuts in Switzerland to start in late 2024 https://t.co/QTexlpeVFb https://t.co/jZ0v2FnwB7
UBS says the recent rate cut in Switzerland will hit lending income, making it the first big European bank to warn that an almost two-year boost has finally turned into a headwind https://t.co/52wRLURhfl via @economics @myriamBalez #Switzerland
⚠️ UBS CEO SAYS JOB CUTS IN SWITZERLAND TO START IN LATE 2024 Full Story → https://t.co/nF1W4uCTp2 UBS's CEO on Tuesday said the majority of job cuts in its home market, Switzerland, will start from around the end of the year and continue into 2025 and 2026. https://t.co/tmX0LgMebi
#UBS's CEO on Tuesday said the majority of job cuts in its home market, #Switzerland, will start from around the end of the year and continue into 2025 and 2026. https://t.co/tif9i6PsCI
UBS say the recent interest rate cut in Switzerland will hit lending income, making it the first big lender in Europe to warn that an almost 2-year boost has finally turned into a headwind https://t.co/WsgJWU1b0D via @myriamBalez https://t.co/eHxvl7XQCi
UBS says the recent rate cut in Switzerland will hit lending income, making it the first big European bank to warn that an almost two-year boost has finally turned into a headwind https://t.co/xrDB9sO0jz