UBS cuts 3,500 jobs including 1,050 in wealth management

24 August 2011 | 2 minutes read

Switzerland’s largest bank, UBS, is laying off 3,500 employees globally in a cost-cutting exercise that it hopes will result in CHF2 billion (US$2.5 billion) is savings. The cuts represent 5% of UBS’ global workforce and include 1050 members of its global wealth management team. While the bank did not disclose how the cuts would affect specific geographies, including its wealth…

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