In 2012 there was a major cut - I was let go in December 2012. I am not sure what happened after I left but I know that we were talking about 15% cut. Ermotti was making statements about shaping up Investment Banking and billions of dollar in savings - I am not sure if that ever materialized. Anyhow, 10K was going to be let go, the numbers were spread between geographies with London taking the biggest hit (5K), US was at 3K and Swiss cut around 2K.
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Where did you go to work after UBS?