• 16 Jan 2013 at 12:27 PM

Layoffs Watch ’13: UBS

Cuts are said to be going down in New York.

Layoffs are happening (yet again) at UBS this morning, in equities (specifically stock loan, PB and sales/ trading).

Compensation conversations are set to be held next month, and while being told one’s services are no longer required relatively close to bonus time probably feels rather harsh to those affected, this actually represents a big step for UBS, which recently laid people off one day after a major natural disaster, over the phone. Given management’s modus operandi in the past, one would have expected the issuing of walking papers the day before bonus talks or maybe even an hour afterwards (“Just messing with ya”). Cuts four weeks prior is downright humane!

25 comments (hidden to protect delicate sensibilities)
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Comments (25)

  1. Posted by Happy New Year | January 16, 2013 at 1:26 PM

    Call me when UBS isn't having layoff's

  2. Posted by Guest | January 16, 2013 at 1:29 PM

    They took er jobs!

  3. Posted by Louie Ranieri | January 16, 2013 at 1:29 PM

    Book and bowl > Swatch and teacup

  4. Posted by Guest | January 16, 2013 at 1:58 PM

    "UBS…recently laid people one day after a major natural disaster"

    That doesn't sound so bad…

    - UBS not-dating-anymore-but-still-friends-with-benefits Quant

  5. Posted by UBS | January 16, 2013 at 2:10 PM

    Unlimited Bitch Slaps for everyone!

  6. Posted by Guest | January 16, 2013 at 3:40 PM

    Shouldn't the title be "Bonus Watch '13: UBS"?

  7. Posted by guesticles | January 16, 2013 at 3:49 PM

    Tough but fair.

  8. Posted by guest | January 16, 2013 at 3:50 PM

    +1

  9. Posted by Career Purgatory | January 16, 2013 at 3:51 PM

    why is this news? Shouldn't it be news when UBS hires someone?

  10. Posted by guest | January 16, 2013 at 3:59 PM

    :::echo:::echo::::echo::::

  11. Posted by Next | January 16, 2013 at 4:03 PM

    If:
    1. UBS is getting out of the fixed income business, and
    2. UBS is now doing layoffs in equities,

    then
    3. HR is going to have to fire themselves

  12. Posted by Anon | January 16, 2013 at 4:07 PM

    This just never gets old

  13. Posted by Marcel Rohner | January 16, 2013 at 4:17 PM

    Yeah, it kinda does.

  14. Posted by Tsao | January 16, 2013 at 9:05 PM

    Sounds like what went down 2000 years ago with zealots at Mossada.

    - UBS intern (who majored in history).

  15. Posted by 1285 Ave of Am | January 16, 2013 at 10:17 PM

    Can't believe the Merrill guys haven't put Carsten's name on the list.

  16. Posted by Andrea Orcel | January 16, 2013 at 11:00 PM

    Who Carsten ?

  17. Posted by Darwin | January 16, 2013 at 11:04 PM

    "Because when you pick UBS as your bank, you pick a partner. …UBS. U and …oh wait."

  18. Posted by ubs apac quant | January 16, 2013 at 11:20 PM

    Heard Sydney is getting more before the end of the month.

  19. Posted by Noone | January 17, 2013 at 10:20 PM

    UBS is doing layoffs. In less obvious news, Obama is president.

  20. Posted by Gin Tonic | January 22, 2013 at 5:46 PM

    This week is London turn, a Swiss kiss before dying?

  21. Posted by Gin Tonic | January 22, 2013 at 5:46 PM

    Not yet, we are incompetent, we can't even write his name correctly.

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