UBS losses add up to 13,500


Switzerlands UBS, the worlds largest wealth manager in terms of assets, could cut up to 4,500 more jobs in the near future, local media reported on Sunday.

Newspaper SonntagsZeitung reported it was possible UBS could cut another 4,500 jobs in the next few weeks, without naming a source.

A second Swiss newspaper, Sonntag, reported 3,000 to 4,000 positions at UBS could be slashed, also without naming its source.

UBS is struggling to rebuild its once powerful brand after massive investments in risky U.S. assets forced it to make more writedowns than any other European bank and take government backing.

It has already announced about 9,000 job cuts, mostly in investment banking, to bring total headcount to under 80,000

via UBS could cut up to 4,500 more jobs | Reuters .

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on December 7, 2008, in Bank Stocks, Financial Markets, Global, Meltdown and tagged , , , . Bookmark the permalink. Leave a comment.

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