UBS to cut 240 jobs in Asia-Pacific region

April 15, 2009 10:28 am 

GENEVA, April 15 — Switzerland's largest bank, UBS, announced Tuesday that it would cut 240 jobs in the Asia-Pacific region to save costs.

This represents about 3 percent of the bank's total staff in the region, a UBS spokesperson was quoted by the Swissinfo news website as saying.

UBS has already shed 11,000 jobs and suffered more than 50 billion U.S. dollars in write-downs and losses since the beginning of the financial crisis. (PNA/Xinhua) ALM/ebp

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