LONDON — Swiss banking hulk UBS is formulation to separate a bum investment bank, triggering a detriment of adult to 10,000 jobs, Britain’s Financial Times has reported.
The separate will pierce a vital partial of UBS’ bound income trade business into a non-core section and emanate a smaller investment bank doing equities trading, unfamiliar sell and advisory services, a journal pronounced late Friday, citing dual sources.
The move, set to be announced subsequent week, is approaching to outcome in thousands of layoffs in a bank’s behind bureau operations, a journal added.
The news comes after Swiss journal Tages Anzeiger pronounced UBS was set to announce 10,000 pursuit cuts, mostly in a bank’s Information Technology arm that now employs 8,200 people.
The bank employed
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Source:
http://www.news.ezonearticle.com/2012/10/28/ubs-to-split-investment-bank-shed-10000-jobs/
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