UBS chief: Other banks may need to dow

UBS chief: Other banks may need to downsize too
Associated Press

FILE - In this Jan. 13, 2006 file picture the UBS logo is photographed at UBS headquarters in Zurich, Switzerland. Swiss banking giant UBS AG announced massive layoffs Tuesday, Oct. 30, 2012, along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. (AP Photo/Keystone, Steffen Schmidt, File)

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