UBS job cuts
UBS AG, one of the largest banks in Switzerland is planning to lay off around 10 000 workers. In other words, the bank is planning to cut 16% of it’s workers, in order to maintain a higher revenue. The bank’s revenue has been shrinking recently and with “rising capital requirements”, the Swiss bank has no choice but to cut down and minimize its costs. This article made me ponder about the current state of the world economy. As housing fees, service and goods fees continue to rise, people demand a hire income and wage which some companies have trouble increasing because they are not making enough income or revenue. 
What other possible costs could be affecting this Swiss bank to cut 16-percent of its workers? Well, the financial crisis hit the bank hard; not only is the bank suffering due to the financial crisis, but it also loss “billions of dollars” in trading, scandals and management issues. On a positive not, the Swiss bank has been withdrawing from risky activities and has a new executive management that should improve the current situation of the bank. Is there another way the bank could possibly improve its current position?
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