UBS to cut 300 jobs at Enron trading unit - paper ,
 Monday January 28, 6:05 am Eastern Time 
UBS to cut 300 jobs at Enron trading unit - paper
FRANKFURT, Jan 28 (Reuters) - Swiss bank UBS will cut about 300 of 800 jobs at the energy trading unit purchased from Enron Corp. (NYSE:ENE <http://finance.yahoo.com/q?s=ene&d=t> - news <http://biz.yahoo.com/n/e/ene.html>) but plans no additional cuts in the rest of the group, UBS chief Peter Wuffli said in a newspaper interview on Monday. 
Wuffli said absorbing the energy trading unit into the financial group would not mean additional risks for the bank, as the new unit would be absorbed completely into UBS's risk-management system, he told German daily Handelsblatt. 
Wuffli, President of the banking group's executive board since December, said he expected the energy trading unit to return to its old business volumes in six to twelve months. 
He repeated earlier statements that the UBS group, which includes Switzerland's biggest bank and London-based investment bank UBS Warburg, planned no additional layoffs to counter the effects of an economic downturn.
chris.dorland@enron.com