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UBS Cuts 5,500 Jobs, Sells Off $15B in Assets

Swiss bank prepares to lay off over 2,000 investment bankers

By Jason Farago, Newser Staff

Posted May 6, 2008 5:52 AM CDT

(Newser) – UBS will cut 5,500 jobs, slightly fewer than expected, by the middle of 2009 as part of a major restructuring effort, the troubled Swiss bank said today in announcing an $11-billion first-quarter loss. Some 2,600 of the layoffs will be among investment bankers,... Read full story »

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UBS Cuts 5,500 Jobs, Sells Off $15B in Assets

Swiss bank prepares to lay off over 2,000 investment bankers

layoffs • UBS • investment bankers • mortgage backed securities • BlackRock • subprime crisis

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