UBS May Cut 4,500 Additional Jobs: Report
The Swiss bank could cut up to 4,500 more jobs in the near future, local media reported.
The Swiss bank could cut up to 4,500 more jobs in the near future, local media reported.
Switzerland's
UBS
(UBS) - Get Report
could cut up to 4,500 more jobs in the near future, local media reported.
Swiss newspaper
SonntagsZeitung
reported UBS may cut 4,500 jobs, while a second Swiss newspaper,
Sonntag
, said 3,000 to 4,000 positions at UBS could be pared.
A UBS spokeswoman wouldn't comment on the reports.
The job cuts would push the latest round of job losses to more than 13,500, according to reports.
Last week, Swiss bank
Credit Suisse
(CS) - Get Report
said plans to reduce headcount by 5,300, primarily in investment banking, or 11% of the bank's total work force, after estimating a steep fourth-quarter loss.
This article was written by a staff member of TheStreet.com.
