A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023.
REUTERS/Pierre AlbouyNEW YORK, Aug 2 (Reuters) - UBS Group (UBSG.S) is laying off employees from Credit Suisse's investment bank this week in New York, a source familiar with the situation said.
Bloomberg reported about the closure of the Houston office late on Tuesday.
The job cuts come after UBS closed a government-backed deal to buy Credit Suisse in June.
Since the announcement of the deal, UBS has made clear it will reduce the risk of Credit Suisse's investment bank.
Persons:
Pierre Albouy, Tatiana Bautzer, Chris Reese, Diane Craft
Organizations:
Credit Suisse, UBS, REUTERS, Credit, Bloomberg, Thomson
Locations:
Zurich, Switzerland, New York, Houston