The initial phase in June could see 25-30% of former Credit Suisse employees being laid off. Follow-up rounds are set for August through November, with expected savings totaling 12 billion Swiss francs ($13.2 billion).
Despite encountering obstacles, such as a nearly 13% decline in shares since the year's commencement, Nike experienced a marginal uptick in after-hours trading subsequent to the announcement of layoffs.
These workforce reductions represent the second-largest downsizing in New Zealand's public sector, trailing closely behind the Ministry of Education, which suggested 565 job cuts.