UBS, the Zurich-based bank that received a US$59.2 billion (HK$461.76 billion) aid package from the Swiss government and central bank this year, is cutting about 500 jobs from its US wealth management division this week, The Standard reports.
The cuts, which mostly affect support staff at the units Weehawken, New Jersey, headquarters and at 480 branches around the US, are part of about 5,500 jobs the bank said in May that it planned to eliminate, says Doug Morris, a spokesman in New York.
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