08 December 2016
Visit aciworldwide.com

UBS plans to cut 2000 IT jobs - report

15 October 2012  |  10866 views  |  0 blurry people

Swiss bank UBS is planning to axe around 2000 information technology jobs as part of a massive cost-cutting programme, according to local paper TagesAnzeiger.

Around half of the cuts in the bank's 8200-strong global IT workforce could come from the 3200 working in Switzerland, says the paper, citing sources.

The plan is designed to reduce UBS's technology costs from around CHF3.6 billion to CHF2.4 billion a year by 2015.

With cuts at other, unnamed divisions, also on the cards, as many as 12,700 positions across the business could go, around 20% of the entire workforce.

The IT cuts will be pushed through by CIO Michele Trogni, described to TagesAnzeiger by one insider as "a crazy woman" and by another as "an impossible woman".

The bank - which had already outlined plans for 3500 jobs losses last year - has refused to comment on the story.

KeywordsPEOPLE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

UBS 'rogue trader' Adoboli pleads not guilty

UBS 'rogue trader' Adoboli pleads not guilty

30 January 2012  |  5746 views  |  3 comments
UBS admits to breakdown in risk control systems

UBS admits to breakdown in risk control systems

25 October 2011  |  8086 views  |  0 comments
UBS takes the axe to IT staff

UBS takes the axe to IT staff

23 June 2011  |  7017 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comVisit VocaLink.com

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7570 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7215 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
7122 views comments | 36 tweets | 30 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6375 views comments | 19 tweets | 20 linkedin
Convenience needed for business banking customersConvenience needed for business banking cu...
5479 views comments | 2 tweets | 3 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job