Swiss bank UBS to shed 10,000 jobs worldwide

Swiss bank UBS has announced a plan to cut about 10,000 jobs during the next three years as it restructures its investment banking unit.

Switzerland’s largest bank said Tuesday the changes will help it save $5.8 billion by the end of 2015.


The jobs will go over the next three years, and amount to 16% of its current workforce of 64,000.

 

UBS CEO Sergio Ermotti said in a statement announcing the move that the company has a

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