News

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!

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25 Responses to “Layoffs Watch ’13: UBS”

  1. Happy New Year says:

    Call me when UBS isn't having layoff's

  2. Louie Ranieri says:

    Book and bowl > Swatch and teacup

  3. Guest says:

    They took er jobs!

  4. Guest says:

    "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. UBS says:

    Unlimited Bitch Slaps for everyone!

  6. Guest says:

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

  7. Career Purgatory says:

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

  8. Next says:

    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

    • Tsao says:

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

      – UBS intern (who majored in history).

  9. Anon says:

    This just never gets old

  10. 1285 Ave of Am says:

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

  11. Darwin says:

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

  12. ubs apac quant says:

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

  13. Noone says:

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

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