BERLIN -- A Swiss newspaper is reporting that UBS (UBS), the country's largest bank, is set to cut some 2,000 jobs in its IT department as part of a major cost-cutting drive.A UBS AG spokesman on Sunday declined to comment on the report, but referred to an internal email to employees by chief executive Sergio Ermotti saying the bank is still examining all its divisions and therefore "no final decisions have been made."
UBS to Cut 2,000 Jobs: Report
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.