Singapore - Companies such as Sun Microsystems and UBS have announced Singapore layoffs in an effort to cut costs.

According to reports in Channel NewsAsia, computer maker Sun Microsystems is providing career transition support for retrenched employees, but declined to reveal the number of layoffs in Singapore and what the affected departments are. However, a Sun spokesperson had mentioned that up to 6,000 or 18% of the global workforce will be retrenched.

Swiss bank UBS also recently announced that it  would cut 100 jobs in Singapore from its wealth management group across all levels and functions as a last resort to maintain costs. Despite the 240 jobs lost in the region, UBS reports that Asia Pacific remains a strategic priority for the company.