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Swiss bank UBS’ recent decision to cut 10,000 jobs by 2015 has unleashed a mass outpouring of bitterness in the twitterverse.
The multilingual tweets posted by its employees revealed many didn’t know they’d been fired until they realized their access passes were no longer working, says a report on FT.com
Read: Swiss bank UBS to cut jobs
In a bid to recover from scandals and losses, the Zurich-based bank has decided to pare down its investment banking division and curb risky trading activities.
This makes UBS the second Swiss bank to cull jobs after Swiss private bank Julius Baer’s decision earlier this month to cut about 1,000 jobs, or nearly 15% of its staff, in 50 locations worldwide.