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UBS CEO Paid $9 Million While Laying Off 10,000

UBS CEO Paid $9 Million While Laying Off 10,000

UBS drew fire on Thursday as it announced it paid CEO Sergio Ermotti almost $9 million in 2012 and welcomed a new investment bank chief with a $26 million package, just as the Swiss bank is in the process of firing 10,000 staff. Executive pay in Switzerland remains a heated issue five years after the near... Read More »

Barclays Plans To Cut Up To 2,000 Jobs, But Some Execs Push For Bigger Purge

Barclays Plans To Cut Up To 2,000 Jobs, But Some Execs Push For Bigger Purge

Barclays PLC plans to cut as many as 2,000 jobs in its investment bank as part of a broad restructuring of the company, The Wall Street Journal reported, citing people familiar with the British bank's plans. The paper said senior Barclays executives are planning to recommend that the bank cut between 1,000... Read More »

Major Banks Cut 160,000 Jobs -- More Layoffs To Come, Report Says

Major Banks Cut 160,000 Jobs -- More Layoffs To Come, Report Says

Major banks have announced some 160,000 job cuts since early last year and with more layoffs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly 2 to 1. A Reuters analysis of job cuts announced by 29 major banks showed the layoffs... Read More »

Economic Outlook Gets Gloomier After Jobs Report

Economic Outlook Gets Gloomier After Jobs Report

By Christopher S. Rugaber WASHINGTON (AP) -- The faltering U.S. job market has prompted economists to take a much dimmer view of the country's growth prospects. That's a shift from just a few weeks ago, when many were upgrading their forecasts. Friday's surprisingly bleak jobs report for May followed a spate... Read More »

Pizza Hut Employees Arrested In Robberies At The Chain

Pizza Hut Employees Arrested In Robberies At The Chain

Maybe they just wanted a little extra pepperoni. Pizza Hut restaurants in the South have been hit by recent robberies, with incidents occurring in both Kentucky and North Carolina. A Louisville Pizza Hut branch was raided on Sept. 11 and, according to local media outlet WDRB, the caper wasn't a hard one to... Read More »

UBS To Cut 3,500 Jobs In Bid To Save 2B Francs

UBS To Cut 3,500 Jobs In Bid To Save 2B Francs

GENEVA (AP) -- Swiss bank UBS AG said Tuesday it is cutting 3,500 jobs worldwide as part of an effort to save 2 billion Swiss francs ($2.5 billion) annually by the end of 2013. The Zurich-based bank said the cuts would be achieved "through redundancies as well as natural attrition." UBS had announced plans... Read More »

UBS Gives Employees 43 Pages of Strict Appearance Guidelines

UBS Gives Employees 43 Pages of Strict Appearance Guidelines

Likely it will take a lot more than a 43-page booklet on how employees should "Dress for Success" to restore the battered UBS banking brand. But, nevertheless UBS is sure trying. Earlier this month, you might recall that trustee for the Madoff Ponzi scheme victims Irving Picard filed a complaint against UBS... Read More »

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