UBS to Axe 100 Jobs Across its Wealth Management Unit

[kreslik.news]

2016 has been characterized by a wave of job cuts at several leading lenders in Europe, with the epicenter of the trend being London. A combination of factors such as rising labor costs and lagging profits has propagated an influx of pink slips, with UBS joining the ranks in November, according to a recent Reuters report.

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The scope and scale of the cuts has varied across the industry. Lenders such as Deutsche Bank, Standard Chartered and Barclays have all spearheaded this strategy, in many instances ... (read more)