• 22 Jun 2011 at 1:37 PM

Layoffs Watch ’11: UBS

By Bess Levin

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.

Comments (21)

  1. 1
    Posted by Guest | June 22, 2011 at 6:38 PM

    Bess, you forgot a “UBS Sucks” tag. Other than that, I have no concerns.

  2. 2
    Posted by Joaquin | June 22, 2011 at 6:40 PM

    This is terrible news.

    -Stamford Honda & Kia Salesperson #6. 

  3. 3
    Posted by Fho shizzle | June 22, 2011 at 6:41 PM

    Primerica is hiring. Amazing office space, right next to the Saigon Flower nail salon across the street from the power brokers of Ed Jones

  4. 4
    Posted by Trampy Trader | June 22, 2011 at 6:56 PM

    …..and it begins…..

  5. 5
    Posted by guest | June 22, 2011 at 7:08 PM

    “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

  6. 6
    Posted by Anonymous | June 22, 2011 at 7:16 PM

    Are they actually laying people off or is this just a cover for the tidal wave of defections going down?

  7. 7
    Posted by ithjkjhafsud | June 22, 2011 at 7:21 PM

    Where do they defect to, corporate finance?

  8. 8
    Posted by 25th Hour Trader | June 22, 2011 at 7:28 PM

    the sizzler

  9. 9
    Posted by Brooklyn Bully | June 22, 2011 at 7:43 PM

    What are the indian girls that went to NYU going to do? Belly dance in strip clubs?

  10. 10
    Posted by Brooklyn Bully | June 22, 2011 at 7:44 PM

    I forgot New York is dead all banking and trading will be done out of London!

  11. 11
    Posted by Guest | June 22, 2011 at 8:04 PM

    I’m going with this explanation, a firm can’t really do layoffs when no-one wants to work there to begin with.

  12. 12
    Posted by Anonymous | June 22, 2011 at 8:54 PM

    UBS Wealth Management Americas = PaineWebber?

  13. 13
    Posted by Mark | June 22, 2011 at 9:58 PM

    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.

  14. 14
    Posted by U. N. Owen | June 22, 2011 at 10:50 PM

    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?

  15. 15
    Posted by Guest | June 22, 2011 at 11:28 PM

    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.

  16. 16
    Posted by U. N. Owen | June 23, 2011 at 12:12 AM

    Yeah. Owning one might be a good investment…just so long as I don’t hire you to work it.

  17. 17
    Posted by Guest | June 23, 2011 at 1:22 AM

    Hug, my bitter new friend?

  18. 18
    Posted by Guest | June 23, 2011 at 4:15 AM

    They’re called Janitors, sir, and they’ll be the only ones keeping their job for the next tenants.

  19. 19
    Posted by Guest | June 23, 2011 at 4:16 AM

    At this point, it’s hard to tell who’s jumping ship and who’s getting axed. 

  20. 20
    Posted by Guest | June 23, 2011 at 4:18 AM

    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. 

  21. 21
    Posted by Guest | June 23, 2011 at 12:53 PM

    And a “Don’t be shy” link.

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