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UBS announces 3,500 job losses

By Agence France-Presse
Tuesday, August 23, 2011 7:50 EDT
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Swiss banking giant UBS on Tuesday announced plans to shed 3,500 jobs in order to make savings of some 2 billion Swiss francs (1.8 billion euros, $2.5 billion).

UBS aims to make the personnel cuts “through redundancies as well as natural attrition”, the bank said in a statement.

Agence France-Presse
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