According to MarketWatch UBS AG UBS -1.15% said Wednesday it is cutting 500 jobs in information technology, part of cost-cutting efforts aimed at reducing annual spending by a double-digit million Swiss franc amount.
"Over the past few weeks, UBS has reviewed its entire global IT organization with the aim of creating a leaner structure, increasing efficiency and reducing costs," a spokesman for Zurich-based UBS said.
The bulk of jobs to go are in Switzerland, where 200 positions are being axed, and the U.S., where 180 jobs are set to go. The cuts represent 5.5% of UBS's overall IT workforce….
Read more at:
http://www.marketwatch.com/story/ubs-to-axe-500-jobs-in-information-technology-2011-06-22
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