UBS to slash 3,500 jobs UBS AG said it will cut 3,500 jobs worldwide to help save $2.5 billion annually by the end of 2013.

The Zurich bank said the cuts would be achieved “through redundancies as well as natural attrition,” the Associated Press reported. Almost 1,600 of the jobs will be trimmed from the bank’s investment bank unit. Another 1,200 cuts will be in UBS’ wealth management and Swiss banking business, and some 700 will be split between the bank’s global asset management and wealth management Americas units.