UBS to lay off 2,000
European banking giant UBS plans to cut 2,000 jobs in its investment banking, equities, and fixed income units.
Some support staff jobs will also be lost. The current financial crisis has hit European banks hard.
UBS is downsizing its investment banking operations, after rising writedowns led to big clients withdrawing funds from the bank.
Image: Commuters pass the offices of Swiss financial company UBS in London. | Photograph: Cate Gillon/Getty Images
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