Tuesday, March 17, 2009
Top Firm Said Cutting 5,000 'Management' Positions
Just a few days after new UBS CEO Oswald Gruebel hinted to staff that there probably would need to be another round of cost-cutting, Swiss weekly newspaper SonntagsZeitung says that the firm is to purge 5,000 senior jobs, including 2,500 'management' positions in the bank's wealth businesses.
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