The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66.1 - Activities auxiliary to financial services, except insurance and pension funding
8,700 jobs Number of planned job losses
Announcement Date
16 March 2009
Employment effect (start)
1 May 2009
Foreseen end date
Description
In March 2009, the biggest Swiss bank UBS, announced to cut up to 5,000 managerial positions in the following weeks.
On 15 April 2009, the bank announced that it is to cut 8,700 jobs due to a first quarter 2009 financial loss amounting to CHF 35 billion.
UBS operates in over 50 countries. At the end of March 2009 it employed 79,200 people around the world .
Sources
16 April 2009: Hospodárske noviny
16 March 2009: Hospodárske noviny
Citation
Eurofound (2009), UBS, Internal restructuring in World, factsheet number 68509, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68509.
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