UBS takeover of Credit Suisse to spark job crisis in London as 10,000 positions on the line across world

New Delhi: The historic takeover of beleaguered Credit Suisse by rival UBS threatens to spark another crisis: a job problem for around 5,000 employees in the UK. The domino of hundreds of floating curriculum vitae has already fallen in the market spelling bad news for Britain’s already tattered financial sector. According to Reuters, “Credit Suisse staff had already been seeking to jump ship in recent weeks.” Reuters quoted sources as having said so. According to the report, senior London bankers were apprehensive of whether the 5000 people that Credit Suisse employed in the city are going to land jobs. Hundreds of these Credit Suisse employees are going to find themselves out of jobs, further affecting the cost of living crisis. Reuters quoted Stephane Rambosson, co-founder of Vici Advisory which specialises in hiring senior investment bankers, as telling the agency, “Many Credit Suisse bankers had already been talking to a lot of people for a while [about leaving the Swiss bank]. Those who were more loyal and didn’t do so are now talking to headhunters." “An executive at a rival London-based wealth manager said they had seen a steady flow of CVs coming in from Credit Suisse bankers,” the report said. UBS, however, has told Credit Suisse wealth bankers that it sought to reassure them and that it was willing to keep them on board. According to reports, Credit Suisse bankers fear massive job cuts after the UBS takeover, estimates claiming some 10,000 jobs were on the line across the globe. The giant lender’s demise could also deal a potential blow to Canary Wharf Group, which manages the financial hub of the same name in London’s regenerated docklands, Reuters added. Credit Suisse was one of the first major banks to be lured to the area by the prospect of cheaper office space in the early 1990s and houses the bulk of its UK staff in the One Cabot Square building in the western part of the estate. Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook,  Twitter and  Instagram.