UBS to cut 3,500 jobs in bid to save 2 billion Swiss francs by end of 2013
http://dervishcom.blogspot.com/2011/08/ubs-to-cut-3500-jobs-in-bid-to-save-2.html
GENEVA — Swiss bank UBS AG said Tuesday it is cutting 3,500 jobs worldwide as part of an effort to save 2 billion Swiss francs ($2.5 billion) annually by the end of 2013.
The Zurich-based bank said the cuts would be achieved "through redundancies as well as natural attrition." UBS had announced plans for a headcount reduction last month, without specifying exact numbers, after acknowledging that it wouldn't achieve the target it set for itself in 2009 for a pretax profit of 15 billion francs a year by 2014.
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Source: http://feeds.washingtonpost.com/click.phdo?i=babf4c284c9c392c8841209c28b884aa
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