UBS Plans 10,000 Job Cuts, Investment Bank Shrinks

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Posted by Jack Powers

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Jack Powers
3.8
by Jack Powers - Oct. 27, 2012

Lack of demand in the banking industry means another round of dismissals is likely on Wall Street, permanently damaging careers of some investment bankers, Connelly said. “People will have a while on the beach,” he said. “Their business has been commoditized to the point where their brains don’t count as much. A lot of investment bankers will have to find another way to make money.”

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