MILAN (Reuters) -Swiss bank UBS informed unions in Italy on Tuesday of plans to cut 180 jobs, or around a third of the total, in the country, documents reviewed by Reuters showed.
One of the letters to unions seen by Reuters showed that UBS planned to shed 18 jobs out of 34 at UBS Fiduciaria, an asset custody services company that, according to its website, merged with Credit Suisse Servizi Fiduciari.
The bulk of the reductions, 162 out of 568 people, affects the Italian arm of UBS Europe SE, another letter showed.
With some functions being centralised, the cuts involve some group functions, the letter said, while the rest of the reductions are in global wealth management, excluding corporate advisory and front office positions.
Investment banking will also not be affected, the letter added.
It was not immediately possible to have a comment from UBS.
(Reporting by Valentina Za, editing by Giulia Segreti)
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