Plus   Neg

UBS Reportedly To Cut About 40 Jobs In Asia Pacific

Swiss banking giant UBS Group AG (UBS) is cutting about 40 jobs in the Asia-Pacific as part of its efforts to cut costs and combine its trading units, Bloomberg reported.

Meanwhile, Reuters reported that the bank is planning up to 30 job cuts in the major centres of Hong Kong, Singapore, Sydney and Tokyo.

The planned cut will be after combining its global markets and banking businesses.

The job cuts reportedly started last week and were centred on both front and back office positions in the trading and investment banking divisions.

In September, the bank had said that it would combine global markets and banking businesses. The bank plans to form a single Global Markets securities and trading unit after merging its main equities unit with foreign exchange, rates and credit trading operations.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. (AAPL) unveiled a 16-inch MacBook Pro laptop with a larger screen and redesigned keyboard. It is the first major update since the MacBook Pro line was revamped three years ago. The company has moved from a 15-inch screen to a higher-resolution 16-inch screen. Facebook has launched its new payment platform called 'Facebook Pay' in the U.S., joining other tech giants like Google and Apple that have their own payment platforms. The new service will be available across Facebook and its associated apps - Messenger, Instagram and WhatsApp, the social media giant said in a blog post. The payment service supports most major credit and debit cards. Amneal Pharmaceuticals, LLC recalled certain lots of heartburn medication Ranitidine in the form of tablets and syrup for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine, above levels established by the U.S. Food and Drug Administration or FDA. The generic and specialty pharma company is recalling 94 lots of Ranitidine tablets and Syrup.
Follow RTT