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NEW YORK: UBS Group is laying off employees from Credit Suisse’s investment bank this week in
New York, a source familiar with the situation said.
The source declined to specify the scale of layoffs and the specific businesses affected.
On top of the layoffs in New York, UBS has decided to close Credit Suisse’s office in Houston, the person added, asking for anonymity to speak freely on the matter.
UBS and Credit Suisse declined to comment.
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