Layoffs Watch '10: UBS
Postcards from tax evasion HQ:
More layoffs at UBS Wealth Management- today and tomorrow and more to come next month. My group lost a lot of EDs and about a third of the entire group. It's a bloodbath.
Postcards from tax evasion HQ:
More layoffs at UBS Wealth Management- today and tomorrow and more to come next month. My group lost a lot of EDs and about a third of the entire group. It's a bloodbath.
The Swiss are not yet done with their firings. "FYI, layoffs going down right now in IBD at UBS as well."
Cuts are said to have gone down at the Swiss bank today. "Layoffs at UBS IBD, as if moral wasn't low enough at 299 Park. M&A, FIG, TMT affected."
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."