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UBS: New IBD and Wealth Management Cuts Explained

As the financial landscape of 2024 unfolds, the trend of significant job reductions across UBS continues.

Sergio Ermotti, CEO of UBS Group. PHOTO: Christian Beutler / Keystone

This trend, which began in 2023, is still in effect with firms like Citi, Nomura, Bank of America, and Google making notable cuts. UBS, a major player in the financial industry, is also part of this ongoing restructuring process.

Recently, UBS reduced its workforce in the United States by letting go of at least seven

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