Today’s Company News Highlights: UBS Slashes Jobs, Ebay To IPO Skype, Goldman Downgraded

UBS (UBS) announced plans to slash 8700 employees, or 11% of its global workforce, after reporting quarterly losses of almost $1.7 billion that resulted from illiquid risk positions and credit losses

Rio Tinto (RTP) announced a debt sale of $2 billion 5-year notes and $1.5 billion 10-year notes. The company predicted production of about 200 million tons in 2009 on continued demand from China in the second half

EBAY (EBAY) said its plans to spin off its online phone arm, Skype, in an IPO next year that could be worth over $2 billion

Media reports suggest the Administration is mulling over a swap of the $13.4 billion it loaned General Motors (GM) for equity ownership in a restructured entity, hoping for similar concessions from bondholders and the UAW

Reports said Yahoo (YHOO) is planning additional layoffs.

Goldman Sachs (GS) was downgraded by JP Morgan (JPM) to “neutral” from “overweight” on valuation considerations

Fiat CEO Marchionne warned he is “prepared to walk” should concessions from unions not materialize

Procter and Gamble (PG) increased its payout for the 53rd consecutive year 10% to 44 cents per share quarterly

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