Bloomberg - Top firm said to have axed jobs

Axe In Tree Stump

Eliminating positions.

Bloomberg News reports that UBS is cutting jobs at its asset-management unit as it focuses on growth in China and passive and sustainable investing, according to people with knowledge of the matter.

The smallest of UBS’s operating divisions is said to have eliminated at least 100 positions in areas including distribution over recent months, according to one of the people, who asked not to be identified because the cuts haven’t been publicly announced.

About 30 of the cuts were in the U.S., with many in New York, two of the people said. The unit had 2,361 employees at the end of March, according to UBS filings.

Hit the link below to access the complete Bloomberg News article:

UBS Is Cutting Asset-Management Jobs

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