To continue getting breaking news and the full stories from The Boston Globe, subscribe today.

The Boston Globe

Business

UBS will cut as many as 10,000 jobs to ease costs

Investment banking operations to shrink in risk-reduction effort

LONDON — The Swiss bank UBS announced plans Tuesday to eliminate up to 10,000 jobs and cut costs in a major overhaul.

UBS posted a loss of $2.3 billion for the three months ended Sept. 30, citing restructuring costs and charges connected to its debt. The bank recorded a profit a year earlier.

Comments