Switzerland: UBS, Credit Suisse banks plan some 7000 job cuts

Switzerland's biggest banks, UBS AG and Credit Suisse Group AG  plan to announce major job cuts in the weeks ahead, Swiss weekly Sonntag reported, without citing sources.

UBS plans to cut 3,000 to 5,000 jobs, while Credit Suisse will eliminate between 1,000 and 2,000 positions, the newspaper said.

Read more: UBS, Credit Suisse plan big Job cuts: report - MarketWatch