Weighing in on the much-debated topic of work-life balance and putting in more working hours as suggested by some corporate leaders in the recent past, Mahindra Group Chairman Anand Mahindra said he believed in the quality of work and not the quantity. Addressing the Viksit Bharat Young Leaders Dialogue 2025 here in the national capital, Anand Mahindra, said that the ongoing debate was wrong because it emphasises on quantity of working hours. "I have huge respect for Narayana Murthy (founder of Infosys) and others. So let me not get this wrong, of course. But I have to say something, I think this debate is in the wrong direction," Anand Mahindra told the youth. "My point is we have to focus on the quality of work, not on the quantity of work. So it's not about 48, 40 hours, it's not about 70 hours, it's not about 90 hours," Anand Mahindra said. He said that it depends on the output of the work. "What output are you doing even if it's 10 hour...
Several hundred Credit Suisse investment bankers will soon be fired as UBS begins to implement the merger of the two banks, the Swiss weekly HandelsZeitung said Friday.
UBS agreed to buy its rival in a hastily arranged 3-billion-franc ($3.5 billion) fire sale over a March weekend by Swiss authorities afraid that a weakened Credit Suisse would go bankrupt, with speculation rife since about the impact on jobs.
HandelsZeitung said that according to its sources UBS chief executive Sergio Ermotti wants to rapidly get to work on eliminating the huge amount of duplication in their operations.
"The transformation is beginning: in the coming days several hundred Credit Suisse bankers will receive termination notices," said the weekly.
It noted that the Swiss media have speculated about between 30,000 and 35,000 job cuts across the world.
At the end of last year, the two banks had around 120,000 employees between them across the world, including 37,000 in Switzerland.
UBS declined to comment when contacted by AFP.
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