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  1. Wealth
March 16, 2009

Reuters: UBS plans to cut 5,000 senior posts

By Spear's

GENEVA (Reuters) – Switzerland’s biggest bank UBS plans to cut up to 5,000 senior and management jobs in the next few weeks, Swiss weekly SonntagsZeitung said on Sunday.

From Reuters:

GENEVA (Reuters) – Switzerland’s biggest bank UBS plans to cut up to 5,000 senior and management jobs in the next few weeks, Swiss weekly SonntagsZeitung said on Sunday.

It said up to 2,500 management positions could go in UBS’s dominant and profitable wealth management division, which accounts for 50,000 of the bank’s total 77,000 staff.

A UBS spokesman declined to comment on the report.

To read the full article, visit reuters.com

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