UBS could shed 10,000 jobs: report

Agence France-Presse
Swiss banking giant UBS could shed 10K jobs in the future, says a report

GENEVA, Switzerland – The Swiss banking giant UBS could shed 10,000 jobs in the near future, according to a report on Saturday in the Tages Anzeiger daily.

The company could announce the layoffs when it presents its quarterly results on October 30, the newspaper said.

Most of the layoffs are expected to come from the bank’s Information Technology arm which currently employs 8,200 people, 3,200 of them in Switzerland, it said.

The bank employed 63,520 people worldwide at the end of June, including 22,500 in Switzerland.

There was no comment immediately available on the report from the bank. – Agence France-Presse

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