FIVE YEARS AGO IN FXW
FIVE YEARS AGO IN FXW
PaineWebber Cuts New York FX Desk To Skeleton Crew In 'Downsizing' Move
PaineWebber has significantly reduced its forex trading and sales ranks, laying off as many as nine staff from the New York operation, sources say. Although they say the move is a precursor to PaineWebber abandoning the FX market altogether, officials deny it is withdrawing from the foreign exchange business. However, by press time these officials were declining to confirm who has been cut or how many remain.
FXW, December 2
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