08:04 AM EDT, 04/18/2024 (MT Newswires) -- UBS (UBS) is planning another round of job cuts in its investment bank, affecting more than a hundred positions globally, following its rescue of Credit Suisse, Bloomberg News reported late Wednesday, citing people with knowledge of the matter.

The staff cuts are expected in the coming weeks, the people told Bloomberg. Job losses are also anticipated in the wealth management and markets divisions, another person told Bloomberg.

The acquisition of Credit Suisse increased UBS's staff count by 45,000 to about 120,000, the report said. Decisions about job cuts are not final and are subject to change, it added.

UBS did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)