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Swiss govt sees no major impact on labour market from Credit Suisse merger
Global Banking & Finance Review®
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BERLIN (Reuters) – The Swiss government expects no significant upheaval with regards to the labour market following the integration of Credit Suisse into UBS, Federal Councillor Guy Parmelin said on Thursday.
BERLIN (Reuters) – The Swiss government expects no significant upheaval with regards to the labour market following the integration of Credit Suisse into UBS, Federal Councillor Guy Parmelin said on Thursday.
“Possible redundancies are to be staggered. The labour market impact should therefore remain low, especially as the current labour market situation is generally very good,” Parmelin said in a statement emailed to Reuters.
(Reporting by Noele Illien, Writing by Rachel More, Editing by Friederike Heine)
The labour market refers to the supply and demand for workers, where employers seek employees and individuals seek jobs. It reflects the dynamics of employment opportunities within an economy.
A merger is a business combination where two companies join to form a single entity. This can enhance market share, reduce competition, and create operational efficiencies.
Redundancies occur when employees are laid off due to various reasons, such as company restructuring or financial difficulties. It often results in job losses and can impact the labour market.
Integration in business refers to the process of combining different systems, processes, or companies to improve efficiency and effectiveness. It often follows mergers or acquisitions.
The financial sector encompasses businesses that provide financial services, including banks, investment firms, insurance companies, and real estate firms. It plays a crucial role in the economy.
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