Switzerland's largest bank announcing layoffs
Updated: Tuesday, October 30 2012, 07:59 AM EDT
SWITZERLAND (NEWSCHANNEL 3) - Switzerland's largest bank is announcing thousands of layoffs Tuesday morning.
UBS says it is cutting 10,000 workers to drastically shrink the size of its struggling investment bank.
The move was announced Tuesday morning along with UBS's third quarter earning results.
UBS currently has 64,000 employees throughout 57 countries.