RSS
UBS slashes 10,000 jobs
 

The giant Swiss bank UBS has announced plans to fire 10,000 bankers all over the world — 15 percent of its workforce — as it scales back its trading business, which lost $50 billion in the financial crisis. A single suspected rogue trader blew $2.3 billion last year. The cuts will save the company $3.6 billion and mark one of the biggest eliminations of financial jobs since Lehman Brothers collapsed in 2008. 

 

THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER

Subscribe to the Week