UBS is said to be embarking on a “fresh round of cuts” in the investment bank, starting with employees big and small in Europe.
UBS, Switzerland’s biggest bank, plans to cut about 80 to 90 jobs in its European investment- banking division as part of a global revamp, according to two people familiar with the matter. The cutbacks, which are likely to take place before year- end, would amount to about 17 percent of staff within the region’s investment-banking division and include junior and senior bankers, said the people, who asked not to be identified because the plans are private. The division includes merger advisory and equity and debt capital markets. The reductions probably will kick off a fresh round of job cuts within the broader investment bank, which includes UBS’s fixed-income and equities units, said the people.
i….can't…
Cue the Financial Samurai D-Bag spamming his book . . .
You know what? I will let it hit me on the way out. F*** you.
Call me when UBS isn't having a layoff.
There still people at UBS?
Hey man, it's a new year, maybe he decided it was a time for new beginnings, or committed seppuku, whatevs.
Bloody hell.
AM Bartender
TGIF Friday
Leicester Ssquare, London
I expect to be fired before I am hired.
UBS '12/13 Intern
I can also deliver a "fresh round of cuts!"
- Ex-UBS Cafeteria Senior Cashier
Hey, no commenting while at work! Don't you know they monitor everything and can fire you because if it? Silly analyst.
We realize that on this solemn day, A part of our company goes with you.
We strongly suggest that you put it back.
UBS Security
Lucky Bastards!
-Barclays employee
News is they also layed off their finance compensation team. Not sure how they lasted this long seeing is UBS can't spell "Bonus".
Your spelling is just fine.
seeing is believing
I don't understand why people can't stand me. Surely, it has nothing to do with smelling like coffee and wearing ridiculously outdated shirts from the 80's.
Knew a Paine Webber IB hire who got let go first day on the job. UBS is just maintaining a tradition.
For equity derivatives sales please press 1. Jingle. All operators are currently on leave…if you would like to structure your own product using our online help service please press 1 or go to our online website for your easy to fix portfolio optimizer!
I assume the online portfolio optimizer tells you how to withdraw all your money and send it somewhere that might not immediately lose it.
More along the lines of invest in these 6 different assets with fancy names like "dynamic low volatility reducer component" or "ball the fuck out commodities portion" and then bam you have a risk parity portfolio with shit tons of amount in leverage in fixed income to lower your vol while still showing equity/comms exposure…but who is listening shushhhhh ;)
I’m now not positive where you’re getting your info, but good topic. I must spend a while studying much more or understanding more. Thanks for magnificent information I was on the lookout for this information for my mission.
There is a lot of confusion internally as well between UBS Investment Bank and UBS Investment Banking and we will use a practicable approach to deciding on layoffs. A coin toss.
I?ve been exploring for a little bit for any high quality articles or blog posts in this kind of area . Exploring in Yahoo I ultimately stumbled upon this web site. Studying this information So i am glad to exhibit that I’ve an incredibly just right uncanny feeling I came upon just what I needed. I such a lot indubitably will make sure to do not overlook this site and provides it a look on a constant basis.
And all?
We are cutting "employees big and small" only to avoid EU regulations on weight discrimination. Otherwise we would have cut based on national origin.
- UBS Head of HR PR.
As an intern I actually was!!!