Thousands more job cuts at to come UBS: Report

ZURICH: Switzerland's biggest bank UBS, which has been hurt badly by the United States subprime crisis, will slash up to 4,500 more jobs, according to two Swiss Sunday newspapers.

Without citing sources, SonntagZeitung newspaper said the bank would "in the coming weeks announce further job cuts".

"It is possible that the bank will eliminate 4,500 jobs, including 750 in Switzerland," the newspaper reported.

It also quoted the bank's spokeswoman saying that "cost management has a high priority".

Meanwhile, another newspaper Sonntag said without citing sources that UBS would axe another 3,000 to 4,000 positions.

In all, the Swiss bank has trimmed 9,000 jobs, reducing its staff strength by 11 per cent since June 2007.