UBS AG (UBS)

[winston]

Swiss bank UBS could shed 10,000 jobs: report

The Swiss banking giant UBS could shed 10,000 jobs in the near future, according to a report on Saturday in the Tages Anzeiger daily.

The company could announce the layoffs when it presents its quarterly results on October 30, the newspaper said.

Most of the layoffs are expected to come from the bank's Information Technology arm which currently employs 8,200 people, 3,200 of them in Switzerland, it said.

The bank employed 63,520 people worldwide at the end of June, including 22,500 in Switzerland.

There was no comment immediately available on the report from the bank.


Source: AFP Global Edition

[winston]

UBS set to cut 400 investment banking jobs: sources

ZURICH/LONDON (Reuters) - UBS is about to cut 400 investment banking jobs, two sources familiar with the situation said on Wednesday, with more extensive lay-offs at the Swiss bank likely to follow as it withdraws from the riskier and more capital-intensive parts of its business.

http://www.reuters.com/article/2012/10/ ... orethebell

[winston]

not vested

UBS Group

UBS Group AG (NYSE:UBS) is a $50 billion Swiss bank, with native shares in Switzerland having trading down 11% on the Swiss exchange at the open.

The American Depositary Receipt shares will follow, bringing the dividend yield near 7%.

UBS is one of the lucky European banks that have yet to break through 2009 lows, and never joining the Eurozone nor the European Union has helped insulate it.

The Swiss National Bank breaking its Euro peg in January 2015 has also further distanced the Swiss banking system from any fault lines resulting from its monetary connections with the euro currency.

This bank stock is likely to recover faster than either UK banks or Eurozone banks.

Source: 24/7 Wall St

[winston]

not vested

UBS Group Ag (NYSE: UBS) is another of the major regional European banks that suffered from UK’s departure.

On the day over 6.7 million shares were traded.

Shares of UBS closed down 13.4% at $13.94, with a consensus analyst price target of $13.86 and a 52-week trading range of $13.68 to $23.19.

Source: 24/7 Wall St.

[behappyalways]

UBS Slides As Net Profit Halved, Despite Wealthy Client Inflow
https://www.zerohedge.com/markets/ubs-s ... ent-inflow

[behappyalways]

Why Wealthy Americans Love UBS, The Secretive Swiss Banking Giant
https://m.youtube.com/watch?v=YXTXNzyOMCk

[behappyalways]

'End Of Great Uncertainty': UBS Completes Takeover Of Credit Suisse, Creating Swiss Banking Giant
https://www.zerohedge.com/markets/end-g ... king-giant

[behappyalways]

UBS To Slash Half Of Credit Suisse's Workforce As Bank Layoff Tsunami Worsens
https://www.zerohedge.com/markets/ubs-s ... mi-worsens

[behappyalways]

UBS said the result primarily reflected $28.93 billion in negative goodwill on the Credit Suisse acquisition. Underlying profit before tax, which excludes negative goodwill, integration-related expenses and acquisition costs, came in at $1.1 billion.

UBS shares jump to 2008 highs after profit beat, job cuts announcement
https://www.cnbc.com/2023/08/31/ubs-pos ... eover.html

[behappyalways]

After Steamrolling Credit Suisse AT1 Investors, UBS Is Selling CoCo Bonds Of Its Own
https://www.zerohedge.com/markets/after ... ds-its-own