Last year, financial services lost 153,105 jobs, most of them near the end of the year as the subprime mortgage mess grew. Industry sources said UBS expects to slash up to 10 percent of its workforce in investment banking and trading, affecting as many as 2,200 people worldwide. UBS last autumn wrote down $19 billion of its assets tainted with subprime mortgage debt, weakening its balance sheet. At the time, the bank said it would cut 1,500 people due to the writedowns. Meanwhile, WaMu – which plans to soon cut 3,000 jobs – said yesterday it posted a $1.14 billion first-quarter loss as more mortgages in its portfolio fell into arrears. "Nothing of this scale has happened since the Great Depression," Chief Executive Kerry Killinger said at WaMu's annual meeting. "This is the toughest credit cycle I have seen in my years in the industry." Angry investors had been gunning to withhold votes on at least two of the directors at yesterday's balloting.