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UBS to slash 10,000 jobs in fixed income retreat

UBS unveiled plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, as it adapts to tougher capital rules that make it more difficult for investment banks to turn a profit since the financial crisis.

 

UBS Expects $1.7B Loss, to Cut 8,700 Jobs

UBS AG says it expects a first quarter loss of nearly 2 billion Swiss francs ($1.75 billion) and that will cut 8,700 jobs by the end of next year.

 

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