UBSsent a shiver through the global financial sector when the Swiss bank started to put bankers on leave on the very day that it confirmed one of the most sweeping job cuts in banking in the past decade.
Some 100 of the Swiss lender’s fixed-income traders in London discovered at the turnstiles that their passes were no longer working when they tried to get into work yesterday morning.
Other bankers had been contacted by phone or found they might lose their jobs when their email repeatedly bounced back.
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