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Cuts are apparently going down at the Swiss bank.
Layoffs in UBS’s WMA (Wealth Management Americas) group are said to be occurring circa now. That’s all we know at this time.
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Bess, you forgot a “UBS Sucks” tag. Other than that, I have no concerns.
This is terrible news.
-Stamford Honda & Kia Salesperson #6.
Primerica is hiring. Amazing office space, right next to the Saigon Flower nail salon across the street from the power brokers of Ed Jones
…..and it begins…..
“UBS Sucks” aside, this is too bad. Some hard working, good people work there and I wouldn’t wish this on anyone.
Is this CT or NY staff?
Best of luck
Are they actually laying people off or is this just a cover for the tidal wave of defections going down?
Where do they defect to, corporate finance?
What are the indian girls that went to NYU going to do? Belly dance in strip clubs?
I forgot New York is dead all banking and trading will be done out of London!
I’m going with this explanation, a firm can’t really do layoffs when no-one wants to work there to begin with.
UBS Wealth Management Americas = PaineWebber?
Yes it is Paine Webber and they did have layoffs today as part of their cost savings initiative – moving IT jobs off shore to India. The reference to people not wanting to work for them is for brokers that live of commission, and it’s true, their reputation is in the dumpster because of helping Americans evade taxes, huge losses from the sub-prime mortgage fiasco (50B), and now, off-shoring thousands of American jobs.
This is news? Layoffs are periodic, regular events in Weehaken. How many has it been since 07 ten rounds? What are you going to break next Bess? Tomorrow’s sunrise?
Easy there, Sport. Have a nice cup of calming tea. There will be other jobs, or at worst, a nice halal cart or fruit stand.
Yeah. Owning one might be a good investment…just so long as I don’t hire you to work it.
Hug, my bitter new friend?
They’re called Janitors, sir, and they’ll be the only ones keeping their job for the next tenants.
At this point, it’s hard to tell who’s jumping ship and who’s getting axed.
There’s some truth to this. I know of a few BB banks that are buying up small trade shops in London and sending operations over there. As far as M&A, I haven’t heard/seen any work being transferred over there. DB has a larger presence in London than in NYC I think, that’s about it.
And a “Don’t be shy” link.