Layoffs Watch '10: UBS

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Dispatches from tax evasion HQ:

UBS US Wealth Management is having a round of layoffs to complement the previous layoff in March.

They are expected for this upcoming week with most expecting it to be on the 10th. There was an earlier date of 5/20 but that was postponed ostensibly because HR had not put all the severance packets together in time. My reason for sharing: weariness of working at a place where talk is of when the next round is coming. Shit gets old fast. Morale is extremely low.


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."

Layoffs Watch '12: UBS

The Swiss are not yet done with their firings. "FYI, layoffs going down right now in IBD at UBS as well."

Layoffs Watch '12: UBS

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."