[ by Howard Haykin ]

Dealbreaker's Bess Levin hears that "Cuts are said to be coming in the near-ish future" at UBS AG.  It's not stated which locations will be affected.

However, a source is quoted to have said:  “More layoffs are expected to take place within the next 2-3 weeks with at least 10pct cuts across the board in sales, research and trading. Morale has reached a new all-time low, and at this point many have the attitude that if they get out now at least they’ll get a package out of it (the last round that got let go a few months ago still managed to get 4 weeks for every year).”   [Dealbreaker,  12/13/12]