UBS is firing ten thousand people.<br /><br />Their jobs will go as the boss of the Zurich-based Swiss bank, Sergio Ermotti said it was a hard decision but "necessary to create a UBS that is fit for the future".<br /><br />The bank is ditching much of the trading business that cost it close to 40 billion euros in losses during the financial crisis. <br /><br />...<br />http://www.euronews.net/
