UBS Europe SE and Credit Suisse Italy have initiated discussions regarding their merger, which is expected to be completed by January 2, 2025.
The focus of these discussions has been on how the merger will impact employees, with union representatives emphasizing the need for transparency and protection of workers' rights. The goal is to maintain existing roles and responsibilities for employees from Credit Suisse and ensure that the integration does not result in demotions or unwanted relocations.
UBS has committed to providing training programs to support the integration of Credit Suisse employees, and a Bilateral Commission on Training has been established to oversee this process. UBS has also assured union representatives that it will respect existing contractual agreements and professional qualifications. The company has indicated that it will uphold the benefits and protections outlined in its Corporate Integrative Agreement (CIA) during the merger.
While no immediate employment impacts have been reported, UBS will evaluate the situation post-integration. The focus throughout this process is on supporting employees and safeguarding their rights.