The Deal
Monday, November 23, 
10:33 am

Finance Layoffs: UBS to cut 5,000

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Unfortunately there are more layoff announcements Monday.

It looks like UBS (NYSE:UBS) plans to cut 5,000 senior and management jobs, according to SonntagsZeitung. DealBook reports that 2,500 management positions could go in UBS' dominant and profitable wealth management division.

Meanwhile, HSBC Korea wants to persuade some staff to take early retirement. The bank is asking 1,050 employees to request early retirement by March 31, according to the Korea Herald.

Woori Bank is taking a similar approach by increasing applicants for its"job change program" to 6,000 this year from 4,000 last year, according to the Korea Herald.

On the bright side, it looks like 100 of those 1,000 U.S. laid off employees of the Stanford Financial Group on which Dealscape reported lost their jobs last week have been offered jobs with Oppenheimer Holdings, according to the Financial Times.


For the latest job postings, check out TheDeal.com's Career Center. For a roundup of all of the announced layoffs to date, check out The Deal's Pink slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff tips or rumors you are hearing. - Maria Woehr

Also see:

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