UBS will cut as many as 10,000 jobs to ease costs
Investment banking operations to shrink in risk-reduction effort
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. UBS has two Boston offices, one downtown and one in the Back Bay, and eight other offices in Massachusetts, from Springfield to Hyannis. The company has not said how many workers will be affected in Massachusetts.