IT’S NOT JUST GLOBAL TECH SHEDDING JOBS NOW: Is global banking catching tech’s feverish job losses? Swiss banking supremo UBS might let go off anywhere up to 30,000 of its workforce. Some degree of attrition was inevitable, given the magnitude of the rescue act needed to absorb Credit Suisse. But when it comes at the cost of such an expansive cull in employee numbers, some of that goodwill gets crushed. And then there was the news from the US about fast-food chain McDonald’s planning layoffs. Can Gulf economies and employers insulate themselves from having to let go of personnel? (By Manoj Nair, Business Editor)
Bloomberg