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UBS is set to unveil 10K job cuts in its investment bank, reports the FT, one-sixth of the...

UBS is set to unveil 10K job cuts in its investment bank, reports the FT, one-sixth of the entire bank's workforce. Anything too capital-intensive - fixed-income trading, for instance - will be completely eliminated. "There were several options on the table, but UBS has decided on the most radical one," says a source.
Comments (3)
  • dividend_growth
    , contributor
    Comments (2878) | Send Message
    It seems MBA is no longer worthy your investment
    26 Oct 2012, 10:23 PM Reply Like
  • Interesting Times
    , contributor
    Comments (10144) | Send Message
    ONE SIXTH....and this recession is over huh..


    Bearishness among heavy-hitter money managers surveyed by Barron's rises to 27%, nearly double the amount from April's poll. As for individual sectors, there's no love for the utilities, with just 1% of respondents picking it as the best-performing industry over the next 12 months, and 20% choosing it as the worst. We've given away the answer, but guess which is today's cover. Feel better, bulls?
    27 Oct 2012, 08:50 AM Reply Like
  • CaladesiKid2
    , contributor
    Comments (271) | Send Message
    "Anything too capital intensive...." hum, perhaps this implies greater use of leverage? Perhaps, with the assurances of TBTF policies well entrenched, UBS understands there is greater reward in greater leveraging as long as the central governments (EU and US) protect them from losses?
    28 Oct 2012, 09:37 AM Reply Like
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