EMCC European Monitoring Centre on Change

UBS Investment Bank

Company/Organisation:
UBS Investment Bank

Geographic Location

Country: World

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 83000

Employment Effects

Announcement Date: 06-05-2008
Planned Job Reductions min: 8000
Planned Job Reductions max: 8000
Type of Restructuring: Internal restructuring

Additional Information

UBS Investment Bank has announced that it is to cut up to 8,000 jobs worldwide due to the first quarter 2008 losses amounting to approximately USD 19 billion. The restructuring will affect mostly employees in the United Stated and Great Britain. As of May 2008, there is no information on when the jobs will be implemented by.