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UBS take over of Credit Suisse may impact less than 20% jobs in India

Source | | Prachi Verma, ET Bureau

UBS’ rescue of Credit Suisse may have made employees of both the banks rush resumes to recruiters seeking new jobs, but experts say the impact on jobs in India is likely to be less than 20% despite their substantial workforce here.

And those who are likely to be laid off following the banks’ merger will not have trouble landing new jobs as global capability centre (GCC) talent is much in demand in the country, executives at recruitment services and search firms Hunt Partner, CIEL HR Services, and Transearch told ET.

“We could see a reduction of 15-20% of the headcount affecting about 3,000 people in India,” Aditya Mishra, chief executive of CIEL HR Services, told ET. CIEL estimates that the two banks employ more than 16,000 people in India.

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