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UBS AG reportedly could cut thousands of jobs this fall, with possible details to follow during next Tuesday when the bank discusses its third-quarter results.
Last year, UBS cut a deal with Connecticut for up to $20 million in incentives in exchange for maintaining at least 2,000 jobs in Stamford, where it operates a large trading floor. At the peak of the last economic boom, the company reported having more than 4,500 employees in Fairfield County.
UBS will begin notifying about 400 investment-banking employees their jobs are being cut, according to the Wall Street Journal, with additional cuts possibly to number in the thousands.
