Layoffs Watch '09: UBS

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A slew of UBS employees are said to have up and walked out of the building (to never come back) after receiving the cash portion of their "bonus" two weeks back, but, unfortunately, not enough for the higher-ups' liking. No matter though, they've problem-solved their way out of not having enough space for house plants the old fashioned way. Local rag SonntagsZeitung reported yesterday that the Swiss bank will cut an additional 5,000 senior and management jobs, including up to 2,500 positions from the wealth management division.

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