Thousands of City jobs could be on a line as Swiss bank UBS prepares to announce a restructuring of a investment bank.
The bank will tell third-quarter total on Tuesday and could concur that as many as 10,000 of a 60,000 staff will be strew in a entrance years. UBS announced skeleton to cut 3,500 jobs to save £1.5bn only over a year ago.
The changes are partial of a plan devised by a new government group in a arise of a Kweku Adoboli allegations.
Banks are underneath vigour to reason some-more collateral during a time when revenues are descending – putting vigour on profitability. As a outcome many banks are slicing staff to say profits.
Sergio Ermotti, a new arch executive, is also pronounced to
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Source:
http://www.news.ezonearticle.com/2012/10/27/ubs-shake-up-could-lead-to-up-to-10000-job-losses/
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