22 February 2017
visit dh.com

UBS plans to cut 2000 IT jobs - report

15 October 2012  |  10913 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  |  5800 views  |  3 comments
UBS admits to breakdown in risk control systems

UBS admits to breakdown in risk control systems

25 October 2011  |  8140 views  |  0 comments
UBS takes the axe to IT staff

UBS takes the axe to IT staff

23 June 2011  |  7062 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit BNP paribasvisit dh.comvisit dh.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
18537 views 11 comments | 54 tweets | 91 linkedin
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
8984 views comments | 48 tweets | 66 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
8723 views comments | 17 tweets | 15 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
7358 views comments | 36 tweets | 33 linkedin
Standard Chartered connects corporate customers to WeChatStandard Chartered connects corporate cust...
5984 views comments | 17 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job