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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
UBS is planning to cut approximately 150 jobs at Credit Suisse’s former post-Brexit hub in Spain. The Swiss bank is proposing to offer older workers in its Spanish office a smaller redundancy package compared to their younger colleagues as it winds down its investment bank. Employees over the age of 63 will receive the minimum payout required in the country, which is 20 days’ salary for every year of service. However, younger workers will be offered a more generous package. This move has put retirement benefits in the spotlight and has raised concerns among employees.