UBS Plans to Layoff 3,500 Employees

As a part of its effort to reduce costs and improve operating efficiency, UBS AG has announced job cuts. UBS AG will make these job cuts through redundancies, natural attrition and further real estate rationalization. .UBS AG had already announced its intention to reduce headcount and consequently save expenses. With these job cuts, the company enters the bandwagon of other big firms who have taken resort to layoffs in the difficult environment in recent times. While the upfront costs with restructuring activities would impact its current results, we believe such efforts would help improve its operating efficiency in the years ahead.

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UBS to Cost Cuts with 3,500 Layoffs