UBS shareholders warned of hard times
16-04-2009
The new chief executive of the giant Swiss bank, UBS, has warned shareholders the company faces a long road back to success, after losing $US1.7 billion in the first three months of this year.
Oswald Gruebel said UBS would face more job cuts -- nearly 9,000 will go, in addition to the 11,000 already lost over the past two years.
