UBS AG may cut as many as 8,000 jobs as it grapples with the biggest credit writedowns of any European bank and a first-quarter loss of 12 billion Swiss francs ($11.54-billion). Switzerland's biggest bank, which had a 3 billion franc profit a year earlier, is set to spell out plans for layoffs today. The company will probably say it's eliminating between 2,500 and 3,000 jobs in its investment bank, more than 10 per cent of the division, according to two people familiar with the matter. It is ''realistic'' to estimate that the company will fire one-tenth of its 83,000 employees over all, Frankfurt-based Landsbanki Kepler analyst Dirk Becker he said. UBSN (Zurich) rose 8 centimes to 36.88 francs.
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