UBS Starts Round of Job Cuts Across Investment Bank, Wealth
- Restarts wealth management cuts, sees hundreds of Swiss cuts
- Bank has indicated $300 million restructuring charge for cuts
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UBS Group AG has started a broad round of job cuts across its largest divisions as part of a restructuring plan intended to save the bank $1 billion over the next three years.
The reductions are taking place in the investment bank, wealth management unit and Swiss business, ranging from managing director to junior employees, people with knowledge of the matter said.