Srinagar, March 21 -- London, March 21 () As the dust settles following the emergency rescue of Credit Suisse by UBS, fears of heavy job losses are growing, media reports said.

The shotgun wedding hammered out between the two Swiss banks last weekend will create a 120,000-strong financial institution - and it already seems inevitable that the workforce will shrink, The Guardian reported.

Switzerland's financial sector already anticipating a heavy hit from the contentious takeover, with the Swiss Bank Employees Association warning on Monday that "the jobs of very many employees are at stake", it said.

Credit Suisse's domestic business and its investment bank, which collectively employ more than 30,000 staff, are expected to bear the bru...