Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

8,000 jobs
Number of planned job losses
Job loss
Announcement Date
6 May 2008
Employment effect (start)
Foreseen end date

Description

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.


Sources

  • 6 May 2008: Hospod├írske noviny

Citation

Eurofound (2008), UBS Investment Bank, Internal restructuring in World, factsheet number 66616, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66616.