UBS Shares Fall as More Writedowns, Job Cuts Seen
According to CNBC, Reuters: “Shares in UBS fell sharply again on Monday as speculation grew the Swiss bank is poised to announce further job cuts and hefty writedowns, including on asset categories that have so far avoided the spotlight.
Swiss newspaper Sonntag said on Sunday that UBS, the world’s largest wealth manager in terms of assets, would cut a further 8,000 jobs and write down at least another $2 billion on illiquid assets.”
~News submitted by upthecreek
