London UBS jobs 'facing the chop'

08-04-2008

London UBS jobs 'facing the chop'
The City of London is the subject of more job cut rumours, as it is thought that investment bank UBS is poised to dismiss 2,000 employees following the aftermath of the credit crunch.

Thousands of jobs hang in the balance after the bank declared losses of £9.6 billion.

And the chairman of the bank, Marcel Ospel, resigned from his position.

UBS gave 1,500 workers the boot last year due to the economic problems, but it is likely that the latest round of job cuts would affect the 9,000 UBS staff members in the London office, the Sunday Times reports.

The Swiss investment bank would also lose employees in its New York branch, the paper added.

Napier Scott Executive Search revealed last week that traders in London have seen their bonuses and paycheques drop by 40 per cent, while their US counterparts on Wall Street recorded salaries cuts of 60 per cent.

Related categories: Banking / Finance.


Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

See also:

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure