UBS warns 30% of UK jobs at risk after Brexit vote

Jobs could be moved to Europe

Laura Dew
clock • 1 min read

UBS has become the latest financial institution to warn UK jobs could be lost in the wake of Brexit, with up to 30% of the UK workforce at risk.

The Swiss bank said 1,500 jobs could be lost from the UK and moved abroad as a result of the outcome of the EU referendum in June. Chief executive Sergio Ermotti said 20%-30% of the 5,000 employees in London could be affected by the changes. The firm also employs 20,000 people in Switzerland. Speaking to newswire Nikkei, Ermotti said: "We currently employ more than 5,000 people in London, and probably 20% to 30% of our workforce could be affected.  "We believe that London will continue to be an important financial centre, although maybe not as important as it is today." However,...

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