April 15 news at noon, according to foreign media reports, UBS said Wednesday that the bank will be losses in the first quarter nearly two billion Swiss francs (about 1.74 billion U.S. million), and laid off 8700 people, in order to speed up the restructuring process.
UBS's new chief executive Oswald Gruebel said in his speech, its goal is by 2010 the total number of staff from UBS closed at the end of the 3 people to cut 76,200 to 67,500 people.
Gruebel also said that because of the low liquidity of the assets of a loss of about 3.9 billion Swiss francs and Swiss wealth management and banking sector capital outflows 23 billion Swiss francs, the bank will be losses in the first quarter. UBS shareholders at the annual conference made the statement before.
The global financial crisis has forced UBS since the mid-2007 by about 50 billion U.S. dollars of assets and 11,000 job cuts were announced.
Apr. 15, 2009
