The Puerto Rico Society of Certified Public Accountants will host a seminar on how the island’s economic scenario will affect the insurance sector, which is expected to take a hit from the government’s debt restructuring process.
Gov. Alejandro García-Padilla said Thursday the government will take specific steps in coming months to face Puerto Rico’s fiscal crisis, which include no new taxes and no job cutbacks.
UBS Puerto Rico is cutting 40 out of 100 positions as part of a restructuring announced earlier this year that could also entail closing at least two of its five local offices. The layoffs are effective immediately.