In February, the company said that by the end of the year its Investment Bank division would further reduce its headcount to 15,000 by effecting a reduction of about 2000 positions. The company had earlier announced a cut of 1,782 jobs during the fourth quarter, most of which affected the investment bank.
Monday, March 16, 2009
UBS may cut up to 5,000 jobs
Swiss financial giant UBS AG reportedly intends to slash up to 5,000 senior and management positions in the coming few weeks. According to a report appeared in the Swiss weekly SonntagsZeitung on Sunday, the company, ravaged by bad U.S. assets, could cut up to 2,500 management positions in its wealth management division. This division employs about 50,000 of the bank's total 77,000 staff.
In February, the company said that by the end of the year its Investment Bank division would further reduce its headcount to 15,000 by effecting a reduction of about 2000 positions. The company had earlier announced a cut of 1,782 jobs during the fourth quarter, most of which affected the investment bank.
In February, the company said that by the end of the year its Investment Bank division would further reduce its headcount to 15,000 by effecting a reduction of about 2000 positions. The company had earlier announced a cut of 1,782 jobs during the fourth quarter, most of which affected the investment bank.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment