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UBS to focut 2,000 banking jobs
sub-prime mortgage debts job losses take total reduction in headcount in past year to 6,000 ubs says it expects to make a small profit in third quarter after losses in 2007 var clickexpire = -1 ; .
the 2,000 job cuts in investment banking, will bring staff to arounced 17,000 by the end of the year, representing a cut of some 6,000 since the peak in third quarther 2007 , a ubs statement said .
the reortganisation has stemmed from the ongoing crisis in the financial markets around dramatically changed industry dynamics , it said .
while the revenue outlook is uncertain, these measures will allow us to focus on our strengths, reduce the cost base to a more sustainable level and position our core businesses for growth once fundamentals improve,
Generated 2008-10-5_12:22
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