Layoffs Watch '10: UBS

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Dispatches from tax evasion HQ:

UBS US Wealth Management is laying off significant amounts of employees in the home office today and tomorrow. General estimates are around 300. I have already seen 5 of my friends in the group next to me leave (total group size of 15!) and its only 45 minutes since they began. Cuts are at all levels, mid-senior to analysts. Morale is extremely low.

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Layoffs Watch '12: UBS?

Cuts are said to be coming in the near-ish future. "More layoffs are expected to take place within the next 2-3 weeks with at least 10pct cuts across the board in sales, research and trading. Morale has reached a new all-time low (hard to imagine it could become lower?) and at this point many have the attitude that if they get out now at least they'll get a package out of it."