Swiss bank UBS to cut 2,000 jobs
Swiss bank UBS has said it will cut 2,000 investment banking jobs and will reorganise the unit after being hard hit by sub-prime losses.
UBS AG, Switzerland's financial heavyweight, announced on tuesday that it will cut 3,500 jobs worldwide as part of a saving scheme that will reduce the company's costs by $2.5 million annually by the end of 2013.