• 30 Sep 2008 at 3:41 PM

Layoffs Watch ’08: UBS

By

Bloomberg reports that the Swiss bank is going to eliminate 1900 employees in investment banking, equities and fixed income. They’re also planning on announcing a $2.7 billion write-down, probably tomorrow.

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    Comments (98)

    Older Comments
    1. 1
      Posted by guest | September 30, 2008 at 3:47 PM

      Zurich is the new NY

    2. 2
      Posted by guest | September 30, 2008 at 3:48 PM

      The beatings will continue until morale improves.

    3. 3
      Posted by guest | September 30, 2008 at 3:50 PM

      http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=320306090254#ht_1389wt_0

    4. 4
      Posted by guest | September 30, 2008 at 3:52 PM

      Since the number of banking jobs and compensation went up lock-step with the bullshit growth in the housing market, who wants to bet we’ll get back to 01-02 numbers on both?
      Oh, and the bailout ain’t gonna stop it.

    5. 5
      Posted by guest | September 30, 2008 at 3:53 PM

      At tleast thelines will be shorter at the Shake Shack.

    6. 6
      Posted by guest | September 30, 2008 at 3:54 PM

      @1 Zurich is the new Charlotte.

    7. 7
      Posted by guest | September 30, 2008 at 3:54 PM

      PwC’rs laying oF Lehman’rs
      IBs working for Commercial Bankers
      Well we asked for it…..

    8. 8
      Posted by guest | September 30, 2008 at 3:55 PM

      @5- wrong swiss bank. credit suisse is by the shack.

    9. 9
      Posted by guest | September 30, 2008 at 3:55 PM

      Their new slogan: It’s You, not Us, UBS.

    10. 10
      Posted by guest | September 30, 2008 at 3:56 PM

      At tleast thelines will be shorter at the Shake Shack.

    11. 11
      Posted by guest | September 30, 2008 at 3:57 PM

      You can’t spell “bonus” without “No, UBS.”

    12. 12
      Posted by guest | September 30, 2008 at 3:57 PM

      1 & 7 Zurich is the new Zurich
      Who do you think financed the German War Machine?

    13. 13
      Posted by guest | September 30, 2008 at 3:58 PM

      @5 – who the fuck goes from 52nd St. to Madison Square Park for lunch?? I mean, yes, Shake Shack burgers are good, but that’s still 30 blocks.

    14. 14
      Posted by guest | September 30, 2008 at 3:58 PM

      @9 You’re right. All those Swiss people look the same to me.

    15. 15
      Posted by guest | September 30, 2008 at 4:00 PM

      @15- you’re right that he meant credit suisse, but ubs has offices in ny as well as stamford, on park ave

    16. 16
      Posted by guest | September 30, 2008 at 4:01 PM

      Wall street 08-10 is going to be like Silicon Valley 01-03.

    17. 17
      Posted by guest | September 30, 2008 at 4:01 PM

      @15 – they’re also at 1285 Ave. of the Americas.
      The Stamford trading floor feels like a haunted house these days. So many empty desks…

    18. 18
      Posted by guest | September 30, 2008 at 4:10 PM

      UBS stole money and gold from Jewish refugees and holocaust victim’s families. They are a horrible bank. There employees think they are entitled to make money. No you are entitled to suffer for your sins.

    19. 19
      Posted by guest | September 30, 2008 at 4:16 PM

      @19
      Hi. You are so right! OMG! We’re suffering for the money “we” stole in 1930, when NO ONE THAT CURRENTLY WORKS AT THIS FIRM WAS ALIVE.

    20. 20
      Posted by guest | September 30, 2008 at 4:18 PM

      @12
      uh, Dubya’s uncle, for one…
      Silesian Coal in da house!

    21. 21
      Posted by guest | September 30, 2008 at 4:18 PM

      @ 19 Shana Tova.
      Many, many jews drink coke, and drive bmw, audi, mercedes. All were guilty of contributing to the holocaust. So was America after the end of the war when they did not want any of the Holocaust refugee’s.
      Forgive but never forget!

    22. 22
      Posted by guest | September 30, 2008 at 4:19 PM

      THERE IS NOTHING HERE
      WORTH YOUR LIFE

    23. 23
      Posted by guest | September 30, 2008 at 4:19 PM

      THERE IS NOTHING HERE
      WORTH YOUR LIFE

    24. 24
      Posted by guest | September 30, 2008 at 4:20 PM

      Dow up 500.. sweet armaggedon…

    25. 25
      Posted by guest | September 30, 2008 at 4:20 PM

      @19,20 Wasnt there a movie about this???

    26. 26
      Posted by guest | September 30, 2008 at 4:20 PM

      “Without U, we’re just B S”

    27. 27
      Posted by guest | September 30, 2008 at 4:20 PM

      WTF just happened with google?!

    28. 28
      Posted by guest | September 30, 2008 at 4:22 PM

      does this mean Phil Gramm gets the big bone?
      ================= -) ~ ~ ~

    29. 29
      Posted by guest | September 30, 2008 at 4:24 PM

      Without you we’re just B S

    30. 30
      Posted by guest | September 30, 2008 at 4:25 PM

      @28 – looks like someone just got the worst execution in the history of earth.

    31. 31
      Posted by guest | September 30, 2008 at 4:29 PM

      Google’s high at $489.26 and low at .01 today…and recovered? What the hell was that?

    32. 32
      Posted by guest | September 30, 2008 at 4:36 PM

      Timmy used his system to buy Google at 489.36 and sell it at .01. Netting him a handsome profit of – hey what they f***! Nevermind – still working out some kinks in the system.

    33. 33
      Posted by guest | September 30, 2008 at 4:54 PM

      google, fuck them. Wish they did go to 1 cent. Then they’d be out of business for sure. Over-rated bullshit. Why should anyone give a fuck? Ask.com is a much better search engine.
      Fuck UBS too. About time they took a hit for something. Their arrogance has been annoying anyway.
      BTW, Anybody have an update on Uncle Sam and the UBS 14,000 American tax dodgers?
      The Guy from Delaware

    34. 34
      Posted by guest | September 30, 2008 at 4:58 PM

      Deloitte is laying of tons soon…

    35. 35
      Posted by guest | September 30, 2008 at 5:00 PM

      35 Consulting or accounting?

    36. 36
      Posted by guest | September 30, 2008 at 5:07 PM

      @ 35/36 – I know this is the wrong blog/post but any thoughts on other consulting firms? Accenture? etc?
      This shit was bound to happen but suprised it took this long.

    37. 37
      Posted by guest | September 30, 2008 at 5:13 PM

      TGFD: never realized you had such a little potty mouth. Good on you.

    38. 38
      Posted by guest | September 30, 2008 at 5:22 PM

      D&T started the fun long ago.
      Greendotlife has some info.

    39. 39
      Posted by guest | September 30, 2008 at 5:23 PM

      @35-37…
      email went out from CEO Salzberg saying “realignments” will be made. Supposition is this was done to comply with WARN act – but WARN act applies when you are laying off shittons of employees!

    40. 40
      Posted by guest | September 30, 2008 at 5:35 PM

      Btw, in all of this mess we are learning that we need some kind of law to protect the assets of vested employees.

    41. 41
      Posted by guest | September 30, 2008 at 5:41 PM

      @39…this is a new round. 800 was the previous number…

    42. 42
      Posted by guest | September 30, 2008 at 5:50 PM

      @20 Yeah, but UBS didn’t stop making bonehead mistakes in 1930. LTCM and what is it now, $30b worth of writedowns? are two recent ones that comes to mind.

    43. 43
      Posted by guest | September 30, 2008 at 6:09 PM

      @43–couldn’t agree more. UBS is always late to the party–ie, LTCM. f-in losers.
      and two MBS traders at UBS, if you still have a job, ciaran and doug–fuk you. schmidt, hang yourself you sellout.

    44. 44
      Posted by guest | September 30, 2008 at 6:10 PM

      Google’s stock is trash. Grossly overpriced momentum play that’s now stuck in a broader bear market.
      I doubt it ever hits $1000. Don’t laugh; you think the NASDAQ is ever getting to 5,000 again? Maybe when your kid takes over your job.

    45. 45
      Posted by guest | September 30, 2008 at 6:30 PM

      chick?@#38…
      Thanks for the “good on you”. Perhaps you may be recent to DB, but I have been cursing here from time to time for the past 6 months. Mostly, I use f’n or f’k, but today I decided to use the real thing.
      The Guy from Delaware

    46. 46
      Posted by guest | September 30, 2008 at 8:02 PM

      UBS and we’ll find out.

    47. 47
      Posted by guest | October 1, 2008 at 12:24 AM

      hahaha Ask.com that was hilarious

    48. 48
      Posted by guest | October 1, 2008 at 12:27 AM

      Could we please just stop referring everything back to the Holocaust? We know it happend and it was just terrible, but let’s move on please!!! There were other Holocaust in world history as well including Cambodia etc..and yet we don’t refer to them everytime something happens? UBS is a great company and does lots of good things for this world. I belive they paid for their sins. Let’s just move on…

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