Swiss bank UBS is set to reduce its workforce in Spain, cutting 147 jobs out of the 350 employees inherited from Credit Suisse in the recent takeover. The majority of the job cuts will come from the investment bank division. The remaining staff from Credit Suisse’s investment bank in Spain will be transferred to UBS in the coming months. While UBS did not provide a detailed breakdown, it mentioned that a small number of job cuts would also occur in the wealth management business. The restructuring is part of the ongoing adjustments following UBS’s acquisition of Credit Suisse earlier this year.