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Swiss banks have come under pressure from governments around the world for their reputation for banking secrecy. Swiss banking giant UBS AG announced massive layoffs last week, along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff. (Associated Press)

Swiss banks have come under pressure from governments around the world for their reputation for banking secrecy. Swiss banking giant UBS AG announced massive layoffs last week, along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff. (Associated Press)

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