The House Of Dougan has apparently said Do svidaniya to a handful of comrades. Read more »
Layoffs
Remember when Bank of America said it was working on a little something called “Project New BAC,” and it involved firing a whole bunch of employees? Barclays is apparently working on a coupla “projects” of its own. Read more »
Cuts are said to be going down circa now at the Swiss bank. Sales and Trading was Tuesday and Wednesday. Read more »
Cuts are expected to go down at the House Of BD. Read more »
For those worried they’d fallen behind. Read more »
Cuts are said to have gone down in Asia. Read more »
Hiring Watch ’12: UBS Was Just Joking When It Fired Scores Of Employees In The Harshest Ways Imaginable
By Bess Levin
Remember, last week, when UBS called New York-based employees the day after Hurricane Sandy to tell them they no longer had a job, and communicated the same news to London-based staff by deactivating their ID cards and cutting off their email access? The bank is hoping everyone is at the point where they can laugh about all that, as apparently management got a bit overzealous with its firings– these things happen in the heat of the moment– and actually let go of a few too many people, who are now being offered their jobs back.
Read more »
Difference is, UBS is the only one that’s faced facts already, ’cause they’re consistently ahead of the curve like that. Credit Suisse, Deutsche Bank, all those other guys will get a cold hard dose of reality sooner or later, though, and when they do they’ll say, “Damn! UBS was all over this! We’re not worthy!” Read more »
Some details on the packages offered to those fired post-Hurricane. Read more »
Layoffs Watch ’12: UBS Tells Employees Not To Bother Themselves With Figuring Out How To Get Into Work (Ever Again)
By Bess Levin
Earlier this week, before a natural disaster struck the East Coast, UBS announced that it would be calling it quits on its fixed income experiment and focusing on wealth management, letting go of approximately 10,000 employees as it transitioned back to its tax evading roots. That was Monday morning, and while the bank had said that it planned to start cuts on Tuesday, most people assumed that the Swiss would wait at least 24 hours between the time Connecticut Governor Dannel Malloy told residents to seek safety from the storm on their roofs or power for the many who lost it was restored or NY/NJ/CT mass transit started functioning again to can a bunch of staff. Those people, however, thought wrong. Apparently when UBS higher-ups decide to do something, neither wind nor rain nor is gonna stop them. Read more »
Management has decided to burn the investment bank down and start fresh (basically). Read more »
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