WEEHAWKEN — An investment website, investmentnews.com, reported on Tuesday that UBS AG, Switzerland’s biggest bank, cut 300 jobs in Weehawken (one of three American headquarters for the company) during the first quarter.
The 300 jobs cut in Weehawken will reportedly save UBS $60 million in annual costs.
The bank is hoping that initiatives like “relocating support functions to cheaper real estate and downsizing branches” will help improve their budget. The article also said that UBS is planning to focus more on high-net-worth and ultra-high- net-worth customers.