UBS Layoffs Job Cut: may fire 5000 management employees: Finance Trading Times

UBS Layoffs Job Cut: may fire 5000 management employees

The news is not good for the employees of UBS, the swiss investment banking giant. We had reported news about the UBS Layoffs Job Cut in February 09 and UBS Layoffs Job Cut in October 08. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. The latest additon to the list of organization which may go for layoffs is the UBS oration or . It has declared that it may have to layoff some 5000 management employees this year. UBS  Logo

How many employees may be fired in the UBS layoffs?
The news is that around 5000 employees may be fired from their jobs at UBS.

What is the total no. of employees of UBS ?
Total No. of employees of UBS is 77,000 as of now.

What will be the cost and savings by UBS layoffs?
No info about that.

When will the UBS layoffs happen?
As per the reports, the layoffs will be done in this year itself, i.e. 2009.

Which locations will be affected by the UBS layoffs ?
The job cuts are expected to be as follows: up to 2,500 management positions could go in UBS's wealth management division.

What is the primary reasons for UBS layoffs?
The job cuts are because of the restructuring. UBS is going for business restructure into four regions from eight, and trimming its top management.

Any other news about UBS layoffs
As per Indiatimes, UBS is struggling to rebuild its once powerful brand and focus on its core Swiss business after massive investments in risky US assets forced it to make more writedowns than any other European bank and accept government backing.
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